Why Did the I-T Department Conduct a Survey at Marico's Offices?
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Synopsis
The Income Tax Department's recent survey at Marico's offices raises questions about tax compliance. With over 200 officers involved, the implications for the company and its stock performance are significant. What does this mean for Marico's future?
Key Takeaways
- Income Tax Department conducted a major survey at Marico.
- Over 200 officers were involved in the operation.
- Marico has not yet responded officially.
- Stock prices have shown a slight decline.
- The survey is part of a nationwide initiative.
Mumbai, Sep 17 (NationPress) The Income Tax Department executed a survey on Wednesday at the corporate offices and facilities of Marico Limited, a prominent consumer goods firm.
This operation, spearheaded by the Mumbai investigation unit, involved over 200 officers and spanned various locations across the nation.
Marico, known for its renowned brands like Parachute, Saffola, and Livon, has yet to release an official statement regarding the situation.
As per reports, this survey is part of a broader nationwide initiative.
On the stock exchange, Marico's shares were trading lower at Rs 714.25 each on the Bombay Stock Exchange (BSE), reflecting a decrease of 1.32 percent or Rs 9.55 around 1:15 p.m.
In the past week, the company's shares declined by Rs 19.35, equating to 2.63 percent. Over the last two weeks, the shares dropped by Rs 19.20, or 2.61 percent.
Within the last month, the stock has yielded a return of Rs 4.15, or 0.58 percent, indicating nearly stagnant performance.
Over the three-month period, the company's shares appreciated by Rs 28.05, or 4.08 percent, according to official data.
In the financial year 2024-25 (FY25), the company reported a turnover of $1.3 billion from products distributed in India and selected markets across Asia and Africa.
A survey conducted under Section 133A of the Income Tax Act differs from a search operation.
While its scope is more restricted, Income Tax officers possess substantial powers to uncover potential tax evasion.
They can scrutinize account books and documents, mark them for identification, and produce copies or extracts.
Officers can also confiscate books or documents but cannot retain them for more than 10 working days without consent from senior officials.
If it is discovered that pertinent books or documents are stored outside the business premises, officials are permitted to visit and examine those locations as well.
However, additional details regarding the survey's findings are still pending.
Point of View
I recognize the importance of transparency in financial operations. This survey by the Income Tax Department is a crucial step in ensuring compliance, and it reflects the ongoing efforts to uphold integrity in the corporate sector. We'll continue to monitor this situation closely.
NationPress
20/09/2025
Frequently Asked Questions
What is the reason behind the I-T Department's survey at Marico?
The survey is part of a broader initiative to investigate potential tax evasion, allowing officers to examine financial records.
How many officers were involved in the survey?
Over 200 officers from the Mumbai investigation unit participated in the survey.
What brands does Marico own?
Marico is known for popular brands such as Parachute, Saffola, and Livon.
What are the implications of a survey under Section 133A?
This type of survey allows officers to inspect documents and books for potential tax evasion without the scope of a full search operation.
What has been the impact on Marico's stock?
Marico's shares fell slightly on the Bombay Stock Exchange following the survey news.
