Indegene Limited has received a final tax assessment order for the financial year 2022-23, resulting in a demand of INR 43.69 crore, including interest. The demand stems from transfer pricing adjustments totaling INR 123.41 crore. The company maintains that its positions are supported by facts and law, and has proactively initiated a resolution process through the Mutual Agreement Procedure (MAP) under the India-US DTAA to mitigate potential double taxation risks.
Details of the Tax Assessment
On May 5, 2026, Indegene Limited received an official assessment order for the assessment year 2023-24 (corresponding to the financial year 2022-23). The tax authorities performed transfer pricing adjustments regarding the company’s income, leading to an aggregate tax demand of INR 43,68,84,410.
Strategic Response and Outlook
The company has expressed confidence in the validity of its tax positions. To resolve this matter and address the risk of economic double taxation, the company has filed an application for the Mutual Agreement Procedure (MAP) under the Double Taxation Avoidance Agreement between India and the United States of America. In the interim, it will also utilize the domestic appellate framework to protect its interests.
Impact on Operations
At this stage, Indegene Limited does not anticipate any material adverse impact on its financial position or ongoing business operations. The management remains confident in achieving a fair and timely resolution and has committed to providing updates on any significant developments in the case as they occur.
Source: BSE
