PB Fintech Limited — Important, 01-04-2025: General Updates

Paisabazaar Marketing and Consulting Private Limited, a wholly owned subsidiary of PB Fintech Limited, has received an assessment order from the Income Tax Department disallowing expenses of ₹85.60 crore under the Income Tax Act for the assessment year 2023-24. The company plans to appeal this decision as it stands by its documented expenses. Additionally, the Income Tax Department inadvertently raised a demand of ₹9.32 crore, which contradicts the assessment order, and the company will file a rectification application. Despite the disallowance, there will be no immediate tax payable, as the amount can be offset against carried-forward losses. This situation may create a neutral impact on investor sentiment, balancing the risks of potential appeals against financial stability due to offset capabilities.