SMS Pharma Tax Demand Reduced to ₹40.28 Lakhs from ₹7.19 Crore
SMS Pharmaceuticals received a rectification order reducing its tax demand for AY 2018-19 from ₹7.19 crore to ₹40.28 Lakhs. The company filed the rectification application after receiving the initial demand notice. No material impact is expected on operations.
While the demand has been significantly reduced, the initial demand was substantial and the company is still evaluating further steps, indicating a potential for ongoing impact.
The tax demand has been substantially reduced, which is a positive development for the company.
SMS Pharmaceuticals Limited announced on April 29, 2026, that it has received a rectification order under Section 154 of the Income Tax Act, 1961, significantly reducing a previously issued tax demand.
This follows an earlier intimation on March 31, 2026, regarding a demand notice under Section 156 of the Income Tax Act, 1961, for ₹7.19 crore for Assessment Year 2018-19. The company filed a rectification application, and on April 28, 2026, received an order that reduced the tax demand to ₹40.28 Lakhs.
The company is currently reviewing the rectification order and reevaluating further steps. The announcement states there will be no material impact on the company's financial, operational, or other activities at this stage.
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