Construction Mirror Article detail

India's construction and engineering giant Larsen & Toubro has been charged with two monetary penalties of Rs. 111.31 crore and Rs. 127.64 crore by Qatar's income tax authorities, which amounts to a total tax penalty of Rs. 239 crore. According to a regulatory filing by the infrastructure major to the stock exchanges, the Qatar Tax Authority has imposed a tax penalty on variations in income declared by L&T against the authority's assessment. This penalty has been imposed for the tax periods between April 2016 to March 2017 and April 2017 to March 2018. The General Tax Authority, Qatar, vide its Tax Assessment Notification dated September 6, 2023, has imposed a penalty of 4,86,80,120 QAR (INR 111.31 crore) for tax period 01/04/2016 to 31/03/2017, and 5,58,22,856 QAR (INR 127.64 crore) for tax period 01/04/2017 to 31/03/2018 under article (14) of income tax law number (24) for the year 2018 (Qatar)," said L&T in the exchange filing.