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
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