Indegene has received a final assessment order from the Income Tax Department for assessment year 2023‑24, raising an income tax demand worth INR 43,68,84,410, including interest, following transfer pricing adjustments.
The order, passed under Sections 143(3), 144C(3) and 144B of the Income Tax Act, 1961, was communicated to the company on May 5, 2026, and originates from adjustments of around INR 123.41 crore to its returned income for the year.
In a regulatory filing under Regulation 30 of the SEBI Listing Regulations, Indegene disclosed the assessment has been framed by the Assessment Unit of the Income Tax Department and is accompanied by a demand notice under Section 156 of the Act.
The company said that it believes its tax positions are well supported on facts and in law, and that it has initiated steps to seek relief through both international and domestic processes.
To mitigate the risk of economic double taxation and obtain certainty, Indegene has applied for resolution under the Mutual Agreement Procedure (MAP) mechanism available in the Double Taxation Avoidance Agreement between India and the United States.
“To obtain certainty and mitigate the risk of economic double taxation, the Company has filed an application for resolution through the Mutual Agreement Procedure (MAP) under the Double Taxation Avoidance Agreement (DTAA) between India & United States of America. In parallel, the Company will also pursue appropriate remedies under the domestic appellate framework to safeguard its interests until the MAP process is concluded,” the company noted.
Indegene has stated that it is confident of a fair and timely resolution and does not, at this stage, expect any material adverse impact on its financial position or operations from the tax demand.
“At this stage, the Company does not expect any material adverse impact on its financial position or operations. The Company will keep the stock exchanges informed of any further material developments in accordance with applicable regulations,” the company concluded.
