Mphasis Receives ₹2286.86 Cr Income Tax Demand

Mphasis received an Assessment Order under Section 143(3) read with Section 144B with a tax demand of ₹2,286.86 crores for AY 2023-24.
Additions to taxable income relate to ESOP expenses, subcontractor payments to overseas AEs without TDS, and GST turnover differences.
Management views no material financial impact and plans to file a rectification petition and appeal against the order.