The attached disclosure is an update on the demand raised by Income Tax Order Order for AY 2024-25
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Fortis Malar Hospitals informed BSE that the Income Tax department's Centralized Processing Centre (CPC), Bengaluru has processed the company's rectification application against an earlier tax demand of INR 20.82 Lakhs raised for Assessment Year 2024-25. Through an order dated March 27, 2026, passed under Section 154 of the Income Tax Act, the CPC has fully deleted the demand. Additionally, a refund of Rs. 41.11 lakhs has been determined in the company's favour. There are no further financial implications such as penalties, and the company has stated the event time as March 27, 2026 at 4:03 p.m.
This is a positive development for shareholders as the entire income tax demand has been wiped out and the company will receive a refund of Rs. 41.11 lakhs. The removal of this tax liability overhang is marginally favourable for the stock, though the absolute amounts involved are small relative to the company's size.