MphasiS Limited has informed the Exchange about General Updates
MPHASIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MphasiS Limited has informed the exchanges that it received a rectification order under Section 154 of the Income Tax Act, 1961, dated 7 July 2025. This order has reduced the original income tax demand of ₹1,164.77 crore (raised in March 2025) to ₹582.7 crore, giving the company substantial relief of roughly ₹582 crore. The reduction came after the company filed a rectification application citing mistakes apparent from record, which was processed by the jurisdictional ACIT, Bengaluru. The company is now contesting the remaining reduced demand before Appellate Authorities and expects further relief. The disclosure was made under Regulation 30 of SEBI LODR Regulations, 2015.
Positive for shareholders — the tax demand has been cut by about 50%, easing the immediate financial burden, though a significant demand still stands and the company continues to contest it. Watch for further updates from the Appellate Authorities.