Bandhan Bank gets ₹119.38 Crore income tax demand

27 Mar 2025 , 09:04 AM

Bandhan Bank Limited informed that it has received an income tax demand order of ₹119.38 Crore from the Faceless Assessment Unit of the Income Tax Department. The order received is for assessment year 2023-24 (FY 2022-23).

The tax demand was issued under Section 143(3) read with Section 144B of the Income Tax Act, 1961 after completion of a scrutiny assessment. The bank received this order on March 25, 2025.

The company said that the disallowances of some expenditures and deductions that the bank claimed under various income tax provisions. The lender is in the process of filing an appeal before the higher appellate forums within the prescribed timelines.

The bank believes that it has sturdy legal and factual grounds to contest the order and expects that a major portion of the demand can be reversed. Even after the tax demand, Bandhan Bank has explained that there is no impact on its financial operation or other activities.

The private lender has reported a net profit of ₹426.50 Crore, registering a decline of 41.80% on a year-on-year basis as compared to ₹732.70 Crore in the previous corresponding quarter.

The bank’s Net Interest Income (NII) increased 12.10% to ₹2,830.20 Crore in the third quarter ending December 2025. In the previous corresponding period, company’s NII was reported at ₹2,525.40 Crore.

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