Bank of Baroda Receives Demand Order of ₹806.18 Crores from Income Tax Department
Bank of Baroda announced on March 30, 2026, that it has received a demand order of ₹806.18 Crores from the Faceless Assessment Unit (FAU) of the Income Tax Department pertaining to Assessment Year 2020-21.The demand order relates to the taxability of income from foreign branches, broken period interest paid on the purchase of securities, and bad debts written off under Section 36(1)(vii) of the Income Tax Act, 1961.
According to the Bank, the demand will likely subside as it plans to file an appeal before the Commissioner of Income Tax (appeals), National Faceless Appeal Centre (NFAC), and potentially a Writ Petition before the Hon'ble High Court. The Bank believes it has adequate grounds to support its position in the matter.
The Bank stated that the demand order will not impact its financial operations or other activities.
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