PNB Housing Finance discloses INR 107.92 crore tax dispute

PNB Housing Finance Limited (PNBHFL) has disclosed a litigation concerning an income tax order issued by the deputy commissioner of income tax, Central Circle 14, Delhi. The order, dated December 22, 2025, and received on December 23, 2025, pertains to assessment years 2019-20 and 2020-21. It disallows certain revenue expenses and deductions, resulting in a demand of INR 107,92,10,700, with INR 91,33,53,370 for AY 2020-21 and INR 16,58,57,330 for AY 2019-20.

The company plans to file a rectification application under section 154 of the Income Tax Act, 1961, with the deputy commissioner of income tax, Central Circle 14, Delhi, citing inadvertent errors, including incorrect tax rate applications. PNBHFL stated that no additional disallowances were identified beyond those already addressed in regular assessment proceedings, for which an appeal has already been filed with the Income Tax Appellate Tribunal, Delhi.

Despite the dispute, PNBHFL assesses a favorable outcome and does not anticipate a material financial impact. The announcement adheres to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.