Zydus Life subsidiary gets Income Tax demand of Rs 280 cr

Zydus strongly believes that once a rectification is made following its appeal against the intimation the entire demand will be deleted, it said in the press statement

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Indian pharma major Zydus Life said that its subsidiary, Zydus Healthcare Limited, received an Income Tax demand of Rs 284.58 crore.

Zydus Healthcare Limited, a wholly-owned subsidiary of Zydus Life received an intimation under section 143(1) of the IT Act for the assessment year 2023-2024 from the CPC, Income Tax Department, the company said in an exchange filing on December 26.

The tax intimation has been sent due to the following apparent mistakes while processing its return of income.
1. Not allowed claim for deduction under sections 80-IE and 80-JJAA
of the IT Act without any basis;
2. Given short credit of taxes deducted/paid.

Also read:  Moneycontrol Selects: Top stories this afternoon

Based on the assessment and advice of the counsel, ZHL does not expect the said intimation to have any material financial impact as the above-mentioned adjustments are not sustainable in law and are wholly defendable on the facts of the case, the company added.

ZHL has already disagreed with the above-mentioned demand on the e-filing portal of the Income Tax Department. ZHL is also going to file a Rectification Application under section 154 of the IT Act, before the CPC as well as before the Jurisdictional Assessing Officer against the said intimation.

The company strongly believes that once the rectification is made, the entire demand will be deleted, it said in the press statement.