Pfizer India Receives Rs 1.26 Crore Penalty Order From Income Tax Department Over Transfer Pricing Audit for FY23:

Pfizer Limited has received an order from the Deputy/Additional Commissioner of Income Tax, Transfer Pricing, imposing a penalty of Rs. 1,26,34,050 in connection with a transfer pricing audit for the financial year 2022-23 (Assessment Year 2023-24).

The company said it received the order on September 28, 2026, while the order was dated September 25. The penalty has been imposed under Section 271G of the Income Tax Act, 1961.

According to Pfizer, the tax authorities have alleged that the company did not provide certain specific and detailed information sought during the transfer pricing audit.

Pfizer said it believes the order is not maintainable and that it has strong grounds to challenge it. The company is in the process of filing an appeal against the order.

The pharmaceutical company also said the penalty is not expected to have any material impact on its financial position, operations or other business activities.

Pfizer made the disclosure to the BSE and National Stock Exchange (NSE) under Regulation 30 of the SEBI Listing Regulations.