Physicswallah Limited has achieved a substantial reduction in its income tax demand following the receipt of a rectification order under the Income Tax Act. The edtech company successfully reduced its tax liability by Rs. 70.58 crore through a rectification application filed with tax authorities.

Tax Demand Reduction Details

The company received a rectification order on April 13, 2026, under Section 154 read with Section 143(3) of the Income Tax Act, 1961. This order significantly reduced the tax demand from the originally assessed amount.

Background and Timeline

This development follows the company's earlier intimation dated March 18, 2026, where it had informed about receiving an assessment order and demand notice under Section 143(3) of the Income Tax Act involving the original tax demand of Rs. 263.34 crore. Subsequently, Physicswallah filed a rectification application under Section 154 of the Income Tax Act seeking revision of the tax demand.

Company's Response and Next Steps

Following the receipt of the rectification order, Physicswallah has filed an appeal against the revised order before the appropriate appellate authority. The company has approached the Commissioner (Appeals) to contest the remaining tax demand of Rs. 192.76 crore.

Financial Impact Assessment

According to the company's disclosure under Regulation 30 of SEBI Listing Regulations, this rectification order will not have any material impact on Physicswallah's financial position, operations, or business activities. The company maintains confidence in its legal position regarding the remaining tax demand and expects to contest it effectively through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also hosted this disclosure on its investor relations website to ensure transparency with stakeholders and regulatory compliance.

Physicswallah Limited has submitted its quarterly compliance certificate to stock exchanges for the quarter ended March 31, 2026, fulfilling regulatory requirements under SEBI depositories regulations. The filing demonstrates the company's continued adherence to digital share management protocols.

Regulatory Compliance Filing

The company filed the mandatory certificate pursuant to Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. The submission was made to both the National Stock Exchange of India Limited and BSE Limited on April 07, 2026.

Share Dematerialization Status

MUFG Intime India Private Limited, the company's registrar and share transfer agent, confirmed that the entire shareholding of Physicswallah Limited remains in dematerialized form. The registrar reported that no requests for dematerialization were received from shareholders during the quarter ended March 31, 2026.

Corporate Governance

The certificate was signed by Ajinkya Jain, Group General Counsel, Company Secretary & Compliance Officer of Physicswallah Limited. The document was digitally signed on April 07, 2026, demonstrating the company's commitment to digital processes and regulatory compliance.

The disclosure has been made available on the company's investor relations website, ensuring transparency and accessibility for stakeholders. This quarterly filing represents part of the company's ongoing regulatory obligations as a publicly listed entity on Indian stock exchanges.