MPMphasis526299Tax or GST

Income-tax demand revised to ₹2,417.80 crore after rectification order

Mphasis has received a rectification order under Section 154 of the Income-tax Act, 1961, dated October 9, 2026.

By ScoutQuest · Wed 14 Oct 2026, 6:11 PM IST · 1 min read

Revised income-tax demand (AY 2023-24)

₹2,417.80 crore

Previous income-tax demand

₹2,286.86 crore

Order type and date

rectification order under Section 154 of the Income-tax Act, 1961, dated October 9, 2026

What the company informed the exchanges

Mphasis has informed the exchanges that the Assistant Commissioner of Income Tax, Circle 4(1)(1), Bengaluru, has issued a rectification order under Section 154 of the Income-tax Act, 1961, dated October 9, 2026. The company received this order on October 13, 2026.

This intimation continues an earlier one dated March 26, 2026, which related to the receipt of an Assessment Order passed under Section 143(3) read with Section 144B of the Income-tax Act, 1961, along with a Notice of Demand under Section 156, for Assessment Year 2023-24.

What the rectification order changes

• The demand has been revised from ₹2,286.86 crore to ₹2,417.80 crore.
• The company states the revision is on account of interest levied under Section 220 of the Income-tax Act.

What the company says it will do

• It is evaluating options to avail itself of legal remedies.
• It intends to file an appropriate rectification petition on errors noted in the computation.

What the company says about its financials

Based on the rectification order, the company does not expect any material impact on its financial statements.

For a reader tracking this: the order is a rectification order under Section 154, the demand figure it revises is the one for Assessment Year 2023-24, and the company's own stated position is that it sees no material impact on its financial statements from this order.

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