Mphasis Ltd Receives Order under Sections 201 and 201(1A) of Income Tax Act, 1961 for Assessment Year 2020-21

Mphasis Ltd has received an order under sections 201 and 201(1A) of the Income Tax Act, 1961 along with a Notice of demand under section 156 of the Income Tax Act, 1961 for assessment year 2020-21. The order, received on March 30, 2026, from the Office of the DCIT, International tax, Circle 1(1), Bangalore Income Tax Department, is in relation to the Company's case selected for scrutiny under section 133(6) of the Income Tax Act, 1961. The order contains a demand of TDS on overseas payments to foreign associated enterprises and interest thereon. The Company, however, is confident that there is no material financial impact to them, as they are evaluating options to avail themselves of legal remedies and file an appropriate appeal against the said demand order.