Fortis Malar Hospitals has received an Income Tax intimation order from the Centralized Processing Centre (CPC) of the Income Tax Department, Bengaluru, demanding ₹20.82 lakhs for Assessment Year 2024-25. The company disclosed this regulatory development to BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Income Tax Order Details

The Income Tax order relates to the processing of the company's Return of Income for Assessment Year 2024-25. The CPC has issued an intimation order under Section 143(1) of the Income Tax Act, 1961, which has resulted in a tax demand being raised against the company.

Company's Response

Fortis Malar Hospitals has indicated that it is currently evaluating all available options in response to the Income Tax order. The company specifically mentioned that it is considering filing an appeal against the order issued by the tax authorities.

The disclosure was made on December 24, 2023, at 16:45 hours (IST), in compliance with the regulatory requirements under SEBI Master Circular number SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2022.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing BSE Limited about this development through its Company Secretary and Compliance Officer, Vinti Verma. This disclosure ensures transparency with stakeholders regarding material events that could impact the company's financial position.

The intimation order represents a routine processing action by the Income Tax Department's centralized system, where returns filed by taxpayers are processed and any discrepancies or additional demands are communicated through such orders.

Multiple GST Notice Resolutions

Fortis Malar Hospitals Limited has successfully resolved two separate GST show cause notices, demonstrating effective regulatory compliance management. The healthcare company has received favorable outcomes in both cases, significantly reducing potential financial liabilities.

First GST Case Resolution

The company initially received a show cause notice from the Tamil Nadu Intelligence Division for INR 3,454.54 Lakhs covering April 2022 to March 2023. The final resolution details are presented below:

Recent GST Case Update

In the latest development disclosed on December 10, 2025, Fortis Malar Hospitals received another favorable outcome from GST authorities. The second case involved a more recent assessment period:

Regulatory Compliance Success

The company's ability to successfully contest and resolve both GST notices demonstrates strong internal compliance processes. In the second case, the entire demand of INR 26.06 Lakhs was dropped after the company submitted its response to the authorities.

Combined Financial Impact

Across both cases, Fortis Malar Hospitals faced potential liabilities totaling INR 3,480.60 Lakhs but ultimately confirmed obligations of only INR 4.19 Lakhs. This represents a 99.88% reduction in potential GST liabilities, showcasing effective dispute resolution capabilities.

Business Implications

These favorable outcomes strengthen Fortis Malar Hospitals' regulatory standing and demonstrate the company's commitment to tax compliance. The successful resolution of multiple GST cases without significant financial impact provides confidence in the company's operational and compliance frameworks. The healthcare provider can now focus on its core business activities without the burden of substantial pending tax disputes.