Bank of Baroda Receives ₹806.18 Crores Demand Notice from Income Tax Department

The Bank of Baroda has received a demand notice on 30.03.2026 from the Faceless Assessment Unit, Income Tax Department, pertaining to AY 2020-21. The demand order is for ₹806.18 Crores under section 156 of the Income Tax Act, 1961. The Bank is contesting the order and believes it has adequate factual and legal grounds to substantiate its position. The Bank expects the entire demand to subside and there is no financial or operational impact on the Bank.