The Federal Bank to Receive ₹322.63 Crore Refund from Income Tax Department

The Federal Bank to Receive ₹322.63 Crore Refund from Income Tax Department​

The Federal Bank Limited announced on March 28, 2026, that it has received orders from the Income Tax Department, Corporate Circle 2 (1), Kochi. The orders, issued under Section 254 of the Income Tax Act, 1961, reflect the Hon'ble ITAT order dated August 13, 2024.

The orders pertain to the assessment year 2016-17 and specify a refundable amount of ₹322,62,67,421, including interest under Section 244A of the Income-tax Act. The orders were received on March 27, 2026, at 4:02 p.m.

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