Physicswallah Limited has informed the Exchange about the update on receipt of order under Income Tax Act, 1961
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Physicswallah Limited received a rectification order from the Income Tax Department on April 13, 2026, following its earlier intimation dated March 18, 2026. The original assessment order under Section 143(3) of the Income Tax Act for Assessment Year 2023-24 had raised a tax demand of Rs. 263.34 crore. After the company filed a rectification application under Section 154, the demand has been revised downward to Rs. 192.76 crore, a reduction of about Rs. 70.58 crore. The company has further filed an appeal before the Commissioner of Income Tax (Appeals) and believes it has strong legal and factual grounds to contest the remaining demand. The company has stated that this order will not have any material impact on its financial position, operations, or business activities.
Positive near-term sentiment as the tax demand was reduced by roughly 27% through rectification, though a significant Rs. 192.76 crore demand remains under appeal. Investors should monitor the appeal outcome, as a final adverse ruling could have financial implications despite management's view that there is no material impact.