Income tax department's September survey of Marico premises over alleged tax evasion resurfaces
Mumbai investigation wing teams scrutinised financial documents and transactions at Marico Group premises in a survey conducted in September 2025. The company reported $1.3 billion in turnover in 2024-25 and was not immediately available for comment.
The development
The Income Tax Department surveyed Marico Group premises over alleged tax evasion as the company reported $1.3 billion in turnover in 2024-25. Mumbai investigation wing teams scrutinised financial documents and transactions; Marico was not immediately available for comment.
The numbers
- $1.3 billion
- 2024-25
Why it matters to operators and investors
Treat the survey as a due-diligence flag and verify any subsequent findings before reassessing Marico-related plans.
What to watch next
- A formal tax notice, assessment, demand or penalty
- A company filing that quantifies exposure or says the matter is immaterial
- Follow-up surveys, searches or proceedings involving Marico entities
- Any reported disruption to manufacturing, distribution or retailer supply
- Track Marico's exchange filings and any formal company statement for the survey's scope and status.
- Watch for disclosed tax provisions, contingent liabilities or auditor commentary in subsequent results.
- Avoid assuming operational disruption or guilt absent a formal finding or company disclosure.
The counter-case
A tax survey is an information-gathering step, not a finding of evasion. The signal reports no charge, assessment, penalty, or disruption, so the headline may overstate what is known.