Indian Overseas Bank receives Refund of Rs 1146.07 Crores from Income Tax Department
State-owned Indian Overseas Bank has announced that it has received an order of Rs 1146.06 crore through the Income Tax Department.
.jpg&w=1920&q=40)
Indian Overseas Bank receives Refund of Rs 1146.07 Crores from Income Tax Department
State-owned Indian Overseas Bank has announced that it has received an order of Rs 1146.06 crore through the Income Tax Department. The Bank has received the refund under the Section 154 of the IT Act 1961.
According to the exchange filing, this is to inform that Bank has received an order under Section 154 of the Income Tax Act, 1961 dated 16.06.2025 DIN: ITBA/REC/M/154/2025-26/1077240600(1) on 18.07.2025.
As per the order dated 16.06.2025, the amount refundable to the Bank for the AY 2015-16 including interest u/s 244A of the Income-tax Act is Rs1146,06,72,352/- (Rupees One Thousand One Hundred and Forty-Six Crores Six Lakhs Seventy-Two Thousand Three Hundred and Fifty Two Only). The Bank has informed the exchanges.
Further, the bank has informed that the order was received through e-mail on 18.07.2025 at 8.34 p.m.