Maruti to increase deferred tax liability provision by Rs 850 cr in Q2

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Maruti to increase deferred tax liability provision by Rs 850 cr in Q2 - Business Standard

Quick Summary:

Maruti Suzuki India on Saturday said it would need to increase provision for deferred tax liability by around Rs 850 crore due to the withdrawal of indexation benefit while calculating long-term capital gains on debt mutual funds.

A one-time impact on profit after tax will be felt in the second quarter of the ongoing fiscal, it added.In the Finance (No.2) Act 2024, the indexation benefit has been withdrawn while calculating long term capital gains on debt mutual funds which were purchased prior to April 1, 2023, it added.

The company was making accounting provisions for deferred tax liability on fair value gains on these investments, Maruti Suzuki India said in a regulatory filing.