YES Bank faces additional tax demand of ₹244.20 Crore

Source |07:55 16 Apr 25

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YES Bank received an assessment order in Dec 2018 for AY 2016-17 and a reassessment order in March 2022.
On April 15, 2025, the Jurisdictional Assessing Officer (JAO) passed a rectification order to correct a mistake in the reassessment order.
This rectification order resulted in an additional income-tax demand of ₹244.20 crore.
The increased demand is primarily due to an upward revision of interest under sections 234A and 234B of the Income-tax Act, 1961.
YES Bank considers this demand unsubstantiated and will immediately file a rectification application with the JAO.
The bank will also pursue all available legal remedies, including filing an appeal.
YES Bank believes it has strong factual and legal grounds and does not anticipate any material adverse impact on its financials or operations.

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