Pfizer Limited has reported receiving an Assessment Order for the financial year 2022-23, which includes a tax demand of Rs. 85.74 crore. The demand arises from the alleged under-reporting of income related to the disallowance of certain expenses. The company has stated that it is currently reviewing the order and plans to contest the demand, citing strong grounds for an appeal. Operations are expected to remain unaffected at this time.
Details of the Tax Assessment
On April 23, 2026, Pfizer Limited received an official assessment order from the Income-tax Department. The order, which pertains to the 2022-23 financial year, includes a total tax demand of Rs. 85,73,96,440. Additionally, the authorities have issued a show-cause notice regarding the initiation of penalty proceedings in connection with this assessment.
Company Response and Next Steps
In response to the demand, the company is conducting a comprehensive evaluation of the order. Management has expressed confidence in its position, stating that it possesses strong grounds on merits to challenge the findings. The company intends to initiate the appropriate legal channels, including filing an appeal and seeking a stay on the demand within the stipulated timelines.
Impact on Business Operations
Despite the financial demand, the company does not anticipate any material impact on its financial position, ongoing operations, or business activities at this stage. The dispute centers on the disallowance of specific expenses during the tax assessment process, a matter the company is prepared to contest through formal legal and administrative procedures.
Source: BSE
