Back
Ravi S
We builds future • 10h
BlackBuck To Appeal Tax Demand Notice Over TDS Issues Listed logistics startup BlackBuckBlackBuck Datalabs_in-article-icon today said it received a tax demand notice totalling INR 28.55 Lakh from the Income Tax (I-T) Department. In a filing with the exchanges, the company said that the tax notice, dated July 7, was issued for failure to deduct tax on certain expenses, which were eligible for tax deducted at source (TDS). As per the company, the tax demand, inclusive of taxes, pertained to the financial year 2017-18 (FY18) and was issued by the office of Assistant Commissioner of Income Tax (TDS), Bengaluru. “Order under Sections 201(1) and 201(1A) of the Income-tax Act, 1961, on account of non-deduction of tax at source on certain expenses confirming total demand payable of ₹28,55,872/-… , inclusive of applicable interest,” said BlackBuck while elaborating on the nature of the violations. Meanwhile, BlackBuck said that it has a “strong case on merits”, adding that the company plans to file an appeal against the notice before the appropriate authority. The logistics startup also said that the I-T department’s order will have “no material implications” on the company. Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Ramasubramaniam B, BlackBuck initially started as an online truck aggregator and later expanded its offerings to a comprehensive range of solutions for load management, telematics, payment and vehicle financing. It connects truck fleet operators to big and small businesses with shipment requirements. Besides, the company also offers GPS tracking and truck theft protection solutions, FASTag payments and fuel cards, verified communication channels between the trucker and the shipper and vehicle financing solutions. On the financial front, the logistics company reported a consolidated net profit of INR 280.1 Cr in the fourth quarter (Q4) of the fiscal year 2024-25 (FY25) as against a net loss of INR 90.8 Cr in the year-ago quarter. The healthy profitable numbers came on the back of a tax credit worth INR 245 Cr in the quarter under review. Meanwhile, operating revenues zoomed 30.6% to INR 121.8 Cr in Q4 FY25 from INR 93.2 Cr in the corresponding quarter last year.
Replies (1)
More like this
Recommendations from Medial
gray man
I'm just a normal gu... • 2m
Dronetech company IdeaForge reported its third consecutive loss-making quarter in FY25. The company reported a consolidated net loss of INR 25.7 Cr in Q4 FY25, up 7% from INR 24 Cr loss it reported in the previous quarter. ideaForge had posted a net
See More
gray man
I'm just a normal gu... • 1m
Geotech company MapmyIndia posted a consolidated net profit of INR 49 Cr in the fourth quarter of FY25, marking a near 28% jump from INR 38.3 Cr in the year-ago quarter. On a quarter-on-quarter (QoQ) basis, the company’s profit zoomed 52% from INR 32
See More
gray man
I'm just a normal gu... • 1m
Fintech major PB Fintech’s consolidated profit after tax (PAT) zoomed 2.8X to INR 170.7 Cr in Q4 FY25 from INR 60.2 Cr in the year-ago quarter. On a sequential basis, the company’s profit jumped 2.3X from INR 71.5 Cr in Q3 FY25. The PolicyBazaar par
See More
gray man
I'm just a normal gu... • 2m
Shares of IdeaForge rallied 20% to hit the upper circuit at INR 463.20 during the intraday trading session on the BSE today, compared to its previous closing price of INR 386. ideaForge’s consolidated net loss surged 7% to INR 25.7 Cr in Q4 FY25 fro
See More
gray man
I'm just a normal gu... • 2m
Ecommerce SaaS company Unicommerce reported a 17% uptick in its consolidated net profit at INR 3.4 Cr in Q4 FY25 from INR 2.9 Cr in the same period last year. However, the company’s profit slumped 46% quarter-on-quarter (QoQ) from INR 6.3 Cr. The to
See More
gray man
I'm just a normal gu... • 1m
Airtel Payments Bank’s consolidated net profit jumped 82.6% to INR 63 Cr in the financial year ended March 31, 2025 (FY25) from INR 34.5 Cr in the previous fiscal year, driven by strong adoption of digital banking solutions. In Q4 FY25, its profit i
See More
gray man
I'm just a normal gu... • 1m
ixigo, an online travel aggregator, witnessed a substantial surge in its consolidated net profit, reaching INR 16.8 Cr in the fourth quarter of fiscal year 2025. This represents a remarkable 127% jump compared to the INR 7.4 Cr profit reported in the
See More
Vikas Acharya
Building WelBe| Entr... • 4m
Traya reported a net profit of INR 8.66 Cr in FY24 against a net loss of INR 27.83 Cr in the previous fiscal year Its operating revenue zoomed 284% to INR 236.04 Cr during the quarter under review from INR 61.43 Cr in FY23 Founded in 2019 by Saloni
See More
gray man
I'm just a normal gu... • 2m
Titan-owned CaratLane’s total income for Q4 FY25 zoomed 23% year-on-year (YoY) to INR 883 Cr from INR 717 Cr in the same quarter previous year The company’s earnings before interest and taxes (EBIT) stood at INR 70 Cr, marking a 35.1% increase from
See More
gray man
I'm just a normal gu... • 1m
Delhivery ends FY25 on a high note, achieving profitability in every quarter and reporting a strong consolidated net profit of INR 72.6 Cr in Q4 FY25. This marks a significant turnaround from the INR 68.5 Cr loss reported in the same period last year
See More
Download the medial app to read full posts, comements and news.