Mankind Pharma Faces ₹183.11 Crore Tax Demand

30 Mar 2025 , 04:34 PM

The Income Tax Department has issued tax demand orders to Mankind Pharma for the Assessment Years (AY) 2014-15 to 2017-18. The cumulative demand, including interest charges, is ₹183.11 crore.

The tax demand arises from the disallowance of various expenditures by the Income Tax Department under Section 37(1) of the Income-tax Act, 1961. The orders were issued by the Office of the Deputy Commissioner of Income Tax, Central Circle 29, New Delhi.

The tax demand orders for AY 2014-15 and AY 2016-17 were issued on March 24, 2025, while the orders for AY 2015-16 and AY 2017-18 were issued on March 25, 2025. The company received these orders through the Income Tax portal on March 28, 2025.

Mankind Pharma has said it is confident of legally challenging the tax demand. The firm is zeroing in on substantial factual and legal bases on which to contest the tax demand notice. The company, however, has guided that the order is not expected to have any material impact on its financial performance or on the going concern of its day-to-day operations.

“The pharmaceutical company plans to appeal against the order under the relevant law” Mankind Pharma is likely to watch out for an immediate push back over the tax issue as investors and stakeholders keep a close eye on the situation.