Pfizer Faces RS 85.7 Crore Income Tax Blow, Vows Strong Legal Fight Amid Income Tax Scrutiny
Pfizer Limited has formally notified the BSE and the National Stock Exchange of India that it received an assessment order from the Income Tax Department on April 23, 2026, which demands a payment of Rs. 85,73,96,440/-.
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This demand arises from a review of returns for the financial year 2022-23 and is based on claims of under-reporting income due to the disallowance of specific expenses.
In addition to the tax demand, the authority has issued a show cause notice to commence penalty proceedings.
Despite the substantial amount involved, Pfizer has expressed confidence in its position and is preparing to contest the order through an appeal or stay application.
As a result, the company does not expect this situation to materially affect its operations or financial standing at this moment.