Timken India Limited has received an updated order from the Income Tax Department, Assessment Unit, concerning the tax demand for assessment year 2022-23. Initially, an order under Section 143(3) read with Section 144C(13) and 144B of the Income Tax Act, 1961, resulted in a demand notice for ₹74,76,70,348, inclusive of interest. The company had filed a rectification petition on December 19, 2025, arguing that the tax demand was erroneously calculated at 34.94% instead of the applicable rate of 25.168%. Following this petition, the Office of Deputy Commissioner of Income Tax, Circle 1, Jamshedpur, issued a rectified order on December 24, 2025. This rectified order has reduced the tax demand from ₹74,76,70,348 to ₹32,47,28,750. The company maintains that the earlier orders and demand notices were erroneous and flawed and is taking steps to file an appeal before the appropriate authority. Timken India does not anticipate any immediate financial or monetary impact from this development.