Yes Bank gets Revised Order, Rs. 2,209.17 Crore Tax demand is Now Deleted

On Thursday, Yes Bank stated that a rectification order was received by it from the Jurisdictional Assessing Officer (JAO).

Yes Bank Demand Deleted

Janvi | Apr 26, 2025 |

Yes Bank gets Revised Order, Rs. 2,209.17 Crore Tax demand is Now Deleted

On Thursday, Yes Bank stated that a rectification order was received by it from the Jurisdictional Assessing Officer (JAO).

Table of Content
  1. What Happened
  2. How It Was Resolved

What Happened

  • The bank received a tax demand for Assessment Year 2019-20
  • The tax authorities wrongly asked for Rs 2,209.17 crore (including interest)
  • This demand came from an error in calculations, not from any actual change in the bank’s reported income

How It Was Resolved

  • Yes Bank filed an appeal and requested corrections
  • On April 24, 2025, the tax department issued a rectification order
  • The incorrect tax demand has now been completely removed

The bank has confirmed it received the correction order and considers the matter fully resolved.

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Janvi
Name: Janvi
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Location: Delhi, India
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Janvi is an expert content writer focused on taxation and compliance. She writes insightful articles on income tax, GST, company law, and government policies. Known for her practical approach, she simplifies complex regulations to help readers stay informed and compliant. She can be reached at [email protected]

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