Mumbai, January 1, 2026 – YES BANK LIMITED (NSE: YESBANK, BSE: 532648) said it has received a consolidated order giving effect from tax authorities resulting in an income tax refund of about Rs 345 crore, including interest, relating to the assessment year 2016–17.
Refund Determined After Appellate Orders
The development follows the disposal of the bank’s appeals against earlier assessment, reassessment, and rectification actions for the said assessment year. Based on the appellate outcome, the computation statement issued on December 31, 2025, determined a refund of approximately Rs 345 crore. The bank said the portion of the refund to be recognised in its profit and loss statement exceeds the internal materiality threshold.Background of the Matter
The matter originated from an assessment completed in December 2018 for assessment year 2016–17, followed by a reassessment in March 2022. A subsequent rectification order issued in April 2025 corrected errors in the reassessment computation. The bank had challenged all three actions, leading to the consolidated order now received.Separate Update on Assessment Year 2017–18
In a separate development, YES Bank said an additional tax demand of Rs 292.29 crore raised earlier for assessment year 2017–18 has been substantially reduced following a rectification order received on December 31, 2025. For the residual amount, the bank said it continues to pursue the matter through appropriate proceedings.Financial Impact
- Income tax refund (AY 2016–17): About Rs 345 crore, including interest
- Recognition: Part of the refund to be recognised in the profit and loss statement
- AY 2017–18 demand: Substantially reduced after rectification; balance under process
About the Company
YES Bank Limited is a private sector bank listed on the National Stock Exchange of India and BSE. The bank offers a wide range of banking and financial services across retail, corporate, and institutional segments in India.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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