Income Tax Department Surveys Marico Offices Across India
Mumbai’s Income Tax Department kicked off a major survey on Wednesday at the offices and facilities of consumer goods giant Marico Limited. This bold move, handled by the department’s Mumbai investigation unit, saw over 200 officers raiding spots in various parts of the country. If you’re a fan of everyday brands like Parachute hair oil, Saffola cooking oil, or Livon conditioner, this hits close to home—Marico owns all of them.
So far, Marico hasn’t shared any official word on what’s happening. Reports suggest this survey ties into a bigger nationwide push by the tax authorities to check for any funny business.
Let’s talk stocks—Marico shares took a small hit on the Bombay Stock Exchange (BSE). By around 1:15 p.m., they traded at Rs 714.25 each, down 1.32% or Rs 9.55 from the previous close. Over the past week, the stock dipped by Rs 19.35, or 2.63%. In the last two weeks, it fell Rs 19.20, marking a 2.61% drop. The one-month picture looks steady though, with just a slight gain of Rs 4.15 or 0.58%. Zooming out to three months, shares are up Rs 28.05, or 4.08%, according to BSE data.
Marico’s no small player—it raked in $1.3 billion in turnover for the financial year 2024-25 (FY25). The company sells its popular products not just in India but also in key markets across Asia and Africa.
Now, what’s the deal with this survey? Under Section 133A of the Income Tax Act, it’s not as intense as a full-blown search operation. Still, tax officers get real powers to sniff out possible tax evasion. They can dive into account books and documents, stamp them for records, and even make copies. If they spot something shady, they might impound items, but they can’t hold onto them for more than 10 working days without higher-ups’ okay. And if key papers are stashed elsewhere, officials can head there too for a look.
We’re all waiting to hear what the survey uncovers—stay tuned for updates on this Income Tax survey at Marico.
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