Legal27 Mar 2026, 01:07 pm
Federal Bank to Receive ₹ 489 Crore Refund from Income Tax Department
AI Summary
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Federal Bank Ltd has received orders from the Income Tax Department, Corporate Circle 2 (1), Kochi on 26 March 2026 at 8:09 p.m., issued under Section 254 of the Income Tax Act, 1961. The orders give effect to the Hon’ble ITAT order dated 13 August 2024. The aggregate amount refundable to the Bank for the AY 2015-16 and AY 2017-18 including interest u/s 244A of the Income-tax Act is ₹ 489,60,20,918/- (Rupees four hundred eighty-nine crore sixty lakh twenty thousand nine hundred and eighteen only).
Key Highlights
- Federal Bank to receive ₹ 489 crore refund from Income Tax Department
- Refund includes amount for AY 2015-16 and AY 2017-18
- Refund includes interest under Section 244A of the Income-tax Act
- Refund order issued by Income Tax Department, Corporate Circle 2 (1), Kochi
- Order gives effect to the Hon’ble ITAT order dated 13 August 2024