I-T dept issues ₹4.62 cr demand notice to Equestrian Federation of India

The Income Tax Department has, for the first time, issued a demand notice of Rs 4.62 crore to the Equestrian Federation of India for the assessment year 2024-25 under Section 156 of the Income-Tax Act, 1961, according to official documents.

The notice, dated February 9, 2026, states that a sum of Rs 4,62,18,102 has been determined as payable by the federation for the assessment year 2024-25.

As per the notice, which is in possession of PTI, the amount is to be paid within 30 days of service to an authorised bank.

According to correspondence from EFI's Chartered Accountant to the federation's office-bearers, certain compliance documents -- including a Non-Utilisation/Accumulation Certificate -- were required to be signed and furnished to enable submission before the Income Tax Department.

A final accumulation certificate has also been prepared in connection with the matter but EFI Secretary General Col Jaiveer Singh told PTI that delays by the EFI Executive Committee in completing .