NHPC Limited Receives Income Tax Demand Notice, Increases Stake in Ratle Hydroelectric Power Corporation
NHPC Limited announced on March 28, 2026, that its subsidiary, NHDC Limited, has received an income tax demand notice of 231.78 crore from the Income Tax Department. This demand includes interest of 45.31 crore. The notice was issued on March 27, 2026, following an assessment order for the Assessment Year 2024-25 passed by the Income Tax Department’s Faceless Assessment Unit on March 26, 2026.NHDC Limited is initiating a process to file an application under section 154 to rectify a mistake in the computation of income tax liability, specifically regarding the consideration of eligible MAT credit. The company regularly claims MAT Credit under section 115JAA and has received approval from the Income Tax authority. NHPC anticipates no material impact on the company's financial, operational or other activities.
Separately, NHPC Limited’s shareholding and voting rights in Ratle Hydroelectric Power Corporation Limited (RHPCL), another subsidiary, have increased from 49.72% to 51%. This change followed the release of matching equity contribution by NHPC Limited and the subsequent allotment of equity shares.
| Detail | Information |
|---|---|
| Opposing Party | Income Tax Department, Faceless Assessment Unit |
| Date of Order | March 26, 2026 |
| Tax Demand | 231.78 crore (including 45.31 crore in interest) |
| MAT Credit | NHDC claims eligible MAT Credit amounting to Rs.184.37 crore, which was not considered by the assessing officer. |
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