Unilever’s India arm gets $226 million tax notice

Hindustan Unilever said on Friday it has received a tax demand order of $226 million for the financial year 2020-21 from the country’s tax authority.

The Indian arm of UK-based Unilever said the tax authority had disputed the valuation of certain related-party transactions and raised questions over some of its depreciation claims for tax purposes, but did not provide further details.

India’s Patanjali Foods quarterly profit surges on strong edible oil demand

The company, home to brands such as Dove soap and Surf Excel detergent, said the order will have no material impact on its financials or operations and will appeal against the tax demand.