Yes Bank Ltd. on Wednesday notified the Stock Exchange that it had received a request notice of Rs 292.29 for the 2016-17 valuation year.
The bank received an assessment order passed in December 2017 by Income Tax Act U/s 143(3) in December 2017 and filed by the private lender’s stock exchange as certain additions/disauthorizations were made.
According to Yes Bank, the revaluation order took into account income reported in return of income in lieu of the assessed income to calculate the revalued income.
Therefore, the jurisdiction assessment officer said it had passed an amendment order to correct errors in the reevaluation order and recalculated tax demand. The company received the order on April 15th, 2025 at 13.28 hours.
“In 15.31 hours on the same day, the CPC also passed another amendment order,” the company said.
“According to the latest amendment order passed by the CPC on April 15, 2025, there was an additional tax demand of Rs 292.29.
The bank said it would immediately submit an amendment application to JAO/CPC, “as the above demand appears to be unfounded.”
It added that it pursues “all other available relief measures,” including filing the appeal before the first level appellate authority.
Yes Bank Ltd stock rose 2.00% at Rs 17.87 in BSE compared to a 0.40% advancement in benchmark Sensex. However, after the stock market closed on Wednesday, the company’s submissions regarding tax demand occurred.
