Tax & Penalty17 Jun 2026, 12:04 pm
Fortis Subsidiary Tax Demand Reduced to ₹61.48 Cr
AI Summary
Fortis Hospitals Limited, a wholly-owned subsidiary of Fortis Healthcare Ltd, has successfully processed a rectification application with the Income Tax Authority. This has reduced the tax demand for AY 2024-25 from INR 117.04 Crores to INR 61.48 Crores. The original order was issued by the Income Tax Authority on June 3, 2026, under Section 154 read with Section 143(3) of the Income Tax Act, 1961. This significant reduction in tax liability is a positive development for the company's financial standing.
Key Highlights
- Tax demand for AY 2024-25 reduced from ₹117.04 Cr to ₹61.48 Cr.
- Rectification application filed by subsidiary Fortis Hospitals Limited was successful.
- Income Tax Authority processed the application under Section 154.
- Reduction in tax liability is a positive financial development.
Price Impact
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