Central Bank of India Receives Demand Notice for Rs. 296.08 Crores from Income Tax Department
Central Bank of India announced that it received a demand notice from the Income Tax Department on March 30, 2026. The notice, dated March 28, 2026, advises the bank to pay Rs. 296.08 Crores related to tax liability for the Assessment Year 2024-25.The bank is challenging the order in the appropriate forum and expects relief. It anticipates that the demand will subside. The bank does not expect any financial or operational impact as a result of this matter.
According to a filing, the assessment order was issued under Section 143(3) read with Section 144B of the Income Tax Act, 1961. The assessment pertains to a re-computation of income and disallowances made regarding claims in the bank's income tax returns.
| Particulars | Details |
|---|---|
| Name of the listed entity | Central Bank of India |
| Type of communication received | Demand Notice under Income Tax Act |
| Date of receipt of communication &Authority | March 30, 2026, from the Assessment Unit of the Income Tax Department |
| Demand Amount | Rs. 296.08 Crores |
| Assessment Year | 2024-25 |
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