Bank of Baroda Receives ₹457.25 Crores Demand Notice from Income Tax Department

Bank of Baroda has received a demand notice on 30.03.2026 from the Faceless Assessment Unit, Income Tax Department, pertaining to AY 2019-20. The demand order is for ₹457.25 Crores under section 156 of the Income Tax Act, 1961. The Bank is under the process of filing an appeal before the Commissioner of Income Tax (appeals), National Faceless Appeal Centre (NFAC)/ Writ Petition before Hon’ble High Court against the said order. The Bank believes that it has adequate factual and legal grounds to reasonably substantiate its position in the matter and expects the entire demand to subside. There is no impact on financial operations or other activities of the Bank.