PNB Housing Finance has received an order from the Income Tax Department, related to Assessment Years 2019-20 and 2020-21. The order, received on December 23, 2025, pertains to disallowances of certain revenue expenses and deductions. The total demand amounts to ₹107.92 crore. The company plans to file a rectification application to address errors in the order.
Income Tax Order Details
PNB Housing Finance has been notified of an order issued by the Income Tax Department on December 22, 2025, and received by the company on December 23, 2025. The order concerns Assessment Years 2019-20 and 2020-21.
Financial Impact
The tax demand resulting from the disallowance of expenses and deductions amounts to ₹107,92,10,700. This comprises ₹91,33,53,370 for AY 2020-21 and ₹16,58,57,330 for AY 2019-20.
Company Response
PNB Housing Finance intends to file a rectification application under section 154 of the Income Tax Act, 1961, to address certain errors present in the order, including the application of incorrect tax rates. The company does not expect the order to have a material financial impact.
Existing Appeals
The announcement also clarified that the disallowances mentioned in the order have already been identified in the regular assessment proceeding. The company has already filed an appeal against these disallowances with the Income Tax Appellate Tribunal, Delhi.
Source: BSE
