Subsidiary of NHPC Flags Rs 231.78 Crore Income Tax Demand, Plans to Furnish Rectification Application

NHPC Limited has informed the stock exchanges that its subsidiary NHDC Limited has received an income tax notice dated March 26, 2026, raising a demand amounting to Rs. 231.78 crore (including interest for Rs. 45.31 crore), issued by the Faceless Assessment Unit of the Income Tax Department. The notice belongs to the assessment year 2024-25, and the company had received the same via SMS on March 27, 2026, at 08:32 PM.

The company stated that while calculating income tax, it had already considered an eligible MAT (Minimum Alternate Tax) credit of Rs 184.37 crore. However, the Assessing Officer (AO) did not consider the same in the computation sheet. To correct this mistake in the computation of income tax liability, the company is planning to furnish a rectification application under section 154 of the Income Tax Act. The company does not expect any significant financial or operational impact from this issue.

The company also disclosed about an another major developement, that its shareholding and voting rights in Ratle Hydroelectric Power Corporation Limited (RHPCL) [its another subsidiary] have been increased from 49.72% to 51%. This change occurred after NHPC contributed additional equity and received corresponding shares, thereby gaining majority control in the company.

The aforementioned disclosure has been made by the company through a regulatory filing dated March 28, 2026, addressed to the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange (BSE), issued under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR’).