Syngene International Faces Rs 22 Million Tax Demand Order from Income Tax Department

Syngene International Ltd has received a tax demand order from the Income Tax Department, totaling Rs 22 million (2.2 crore). The order includes tax and interest liabilities, as disclosed in regulatory filings. Syngene clarified that the financial impact of this demand is immaterial and will not affect its operations or profitability. The Bengaluru-based company, known for its contract research and manufacturing services, recently reported strong financial performance with steady growth in revenue and profits. Syngene continues to address regulatory matters while focusing on expanding its research and manufacturing capabilities.

 

Source: Business Standard, TipRanks