Announced Wed, 17 Jun · 12:17 IST
Fortis Healthcare subsidiary's income tax demand cut nearly in half
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FORTIS · price
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₹948.45
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AI summary
Fortis Hospitals Limited, a wholly owned subsidiary of Fortis Healthcare, got its income tax demand for Assessment Year 2024-25 reduced from INR 117.04 Crores to INR 61.48 Crores. The Income Tax Authority processed the company's rectification application, cutting the demand by about INR 55.56 Crores (roughly 47 percent). This is a positive update following the earlier communication on March 28, 2026.
Likely market impact
Positive for shareholders. Tax liability reduced by about INR 55.56 Crores, easing the financial burden on the subsidiary, though INR 61.48 Crores still remains payable.