Indegene Receives ₹43.69 Cr Income Tax Demand

Indegene Ltd has received an assessment order under Section 143(3) read with 144C(3) read with 144B of the Income Tax Act, 1961 for the Assessment Year 2023-24 (corresponding to the Financial Year 2022-23), resulting in an income tax demand of ₹43,68,84,410 (including interest). The demand arises from transfer pricing adjustments made by the Income Tax Authority. Indegene believes its positions are well-supported and is pursuing resolution through the Mutual Agreement Procedure (MAP) under the Double Taxation Avoidance Agreement (DTAA) between India & USA, while also exploring domestic appellate remedies. The company does not expect any material adverse impact on its financial position or operations.