NHPC’s subsidiary, NHDC Limited, received an income tax demand notice for ₹231.78 crore, including interest. However, NHDC expects no adverse impact as it initiates rectification proceedings regarding eligible MAT Credit. Separately, NHPC’s voting rights in Ratle Hydroelectric Power Corporation (RHPCL) increased from 49.72% to 51% following an equity infusion.
Income Tax Demand Notice Received by Subsidiary
NHPC Limited has disclosed that its subsidiary, NHDC Limited, received an income tax demand notice amounting to ₹231.78 crore (which includes interest of ₹45.31 crore) from the Income Tax Department on March 27, 2026. The demand relates to the Assessment Order passed for the Assessment Year 2024-25.
NHDC’s Response and Expected Impact
NHDC has noted that the Assessing Officer did not consider an eligible MAT Credit amounting to ₹184.37 crore when calculating the tax liability. To address this discrepancy, NHDC is proceeding to file an application under section 154 to rectify the mistake concerning the consideration of eligible MAT Credit from earlier years. Importantly, NHDC affirms that since it has consistently claimed and been allowed MAT Credit previously, it anticipates no impact on its financial, operational, or other activities due to this demand.
Change in Shareholding in RHPCL
In a separate development, NHPC has increased its shareholding and voting rights in its subsidiary, M/s Ratle Hydroelectric Power Corporation Limited (RHPCL). Following the release of the matching equity contribution by NHPC and the subsequent allotment of shares, NHPC’s stake in RHPCL has been formally increased from 49.72% to 51%.
Source: BSE
