Pfizer Faces Rs 1.26 Crore Transfer Pricing Penalty for FY23 Audit
New Delhi: Pfizer has received an order from the Deputy/Additional Commissioner of Income Tax, Transfer Pricing, imposing a penalty of Rs 1.26 crore in connection with a transfer pricing audit for Assessment Year 2023-24.
The pharma firm received the order dated September 25, 2026, on September 28, 2026. The penalty of Rs 1,26,34,050 has been levied under Section 271G of the Income Tax Act, 1961.
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According to the company's disclosure, the penalty relates to alleged non-furnishing of specific granular information sought during the transfer pricing audit conducted for Assessment Year 2023-24.
Pfizer said it believes that the order is not maintainable and is in the process of preferring an appeal against it.
Based on its preliminary assessment, the drugmaker said it believes it has strong grounds on merits. It also stated that the order is not expected to have any material impact on its financial position, operations or other activities.
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