Need to hike provision for deferred tax by Rs 211 cr, says Bajaj Auto

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Need to hike provision for deferred tax by Rs 211 cr, says Bajaj Auto - Business Standard

Quick Summary:

Bajaj Auto Ltd on Monday said it will need to increase its provision for deferred tax by Rs 211 crore due to the withdrawal of indexation benefit and change in the tax rate on long-term capital gains on debt mutual fund.

Bajaj Auto said the Finance (No 2) Act 2024 withdraws the indexation benefit on long-term capital gains on debt mutual funds purchased before 1 April 2023.

It was making accounting provisions for deferred tax as per applicable law on fair value gains on these investments, Bajaj Auto said in a regulatory filing.