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Informist, Monday, Mar. 30, 2026

--NHPC arm NHDC gets income tax demand notice to pay INR 2.32 bln 

MUMBAI – NHPC Ltd. Saturday said its subsidiary NHDC Ltd. has received a notice to pay INR 2.32 billion income tax, which includes an interest of INR 453 million. The company said the tax department made an error as it did not consider minimum alternate tax credit of INR 1.84 billion while calculating the income tax liability.

To rectify the error, NHDC has initiated the process of filing an application under section 154 of the Income Tax Act, NHPC said. "Till now, NHDC is claiming MAT Credit u/s 115JAA regularly and the same is being allowed by the Income Tax authority", the filing said.

Further, NHPC said its shareholding in subsidiary Ratle Hydroelectric Power Corp. Ltd. has increased to 51% from 49.72% after NHPC got additional shares. For the December quarter, NHPC reported a net profit of INR 2.93 billion on revenues of INR 18.77 billion. Friday, shares of the company closed at INR 76.59, down nearly 1% on the National Stock Exchange.  End

Reported by Shruti Nair

Edited by Vandana Hingorani

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