Mankind Pharma Gets ₹3.42 Billion Tax Demand, Plans to Appeal

Mankind Pharma Ltd. on Wednesday said it has received an additional tax demand of ₹3.42 billion, including interest, from the Deputy Commissioner of Income Tax, New Delhi. The demand relates to adjustments and disallowance of various expenditures under different sections of the Income Tax Act, 1961.

The company said it does not expect any material impact on its financials or operations due to the order and plans to appeal the demand under applicable laws.