Tax Authority Serves Rs. 341.86 Crore Demand Notice to Mankind Pharma:

Tax Authority Serves Rs. 341.86 Crore Demand Notice to Mankind Pharma Mankind Pharma Ltd has been served with a tax demand order of Rs. 341.86 crore by the Income Tax Department. The notice is along with interest and is for adjustments and disallowances of different expenses under different provisions of the Income Tax Act, 1961. As per a regulatory filing submitted by the company, the orders were passed by the Office of the Deputy Commissioner of Income Tax, Central Circle 29, New Delhi. These were received through the Income Tax portal on May 13 and May 14, 2025. The orders are dated May 9, 2025. The further demand was raised after a scrutiny where the company's expenditures claimed by the company were refused, and an adjustment was done in the tax amount. Overall demand, which includes interest, is now at Rs. 341.86 crore. In its answer, the company has said that it considers the tax demands not legally sustainable. It has stated that it has enough factual and legal basis to dispute the adjustments in the orders. Additionally, the company does not expect any material effect on its operations or financial position due to the demand. There are plans to make an appeal according to the proper legal provisions since the company is ready to appeal the orders through the proper legal avenues.