Music Broadcast FY21-22 Tax Demand of Rs 89.6 Lakhs Erased

The tax demand for Rs 89,63,361 against Music Broadcast Limited for the fiscal year 2021-22 has been reduced to zero, including any penalties. This resolution follows a recent rectification order.

Rectification Order Received

Music Broadcast Limited announced it has received a rectification order from the Deputy Commissioner in Lucknow. This order fully waives the company's tax demand for the fiscal year 2021-22. The original demand, which included potential penalties, amounted to Rs 89,63,361. The rectification order itself is dated March 19, 2026, and the company officially received it on March 23, 2026.

Financial Clarity Achieved

This tax demand resolution removes a significant potential financial liability for Music Broadcast Limited, offering clarity on its tax assessments for FY 2021-22. The company has stated that this rectification has no quantifiable impact on its financial or operational activities.

About Music Broadcast Limited

Music Broadcast Limited operates the 'Radio Mirchi' network across India, a prominent name in FM radio broadcasting. Its business includes radio operations, content creation, and event management. The FY 2021-22 period was one of early recovery for the Indian media and entertainment sector following the COVID-19 pandemic.

Resolution Details

The tax demand and any associated penalties for FY 2021-22 are now fully resolved. Music Broadcast Limited is no longer subject to this financial obligation.

Potential Risks

The company has indicated that this tax rectification has no quantifiable impact on its financial or operational activities, suggesting minimal immediate risk stemming from this specific issue.

Peer Context

This tax rectification is an internal company matter for Music Broadcast Limited. While peers like Jagran Prakashan Ltd and Entertainment Network (India) Ltd operate in the same FM radio broadcasting sector, this specific event does not directly involve them.

Looking Ahead

Investors may continue to monitor company announcements for further financial updates and observe Music Broadcast Limited's overall financial health and growth trajectory.