Bank Of Baroda has informed the Exchange about Disclosure under Regulation 30
BANKBARODA · price
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Bank of Baroda has received a demand notice dated 30.03.2026 from the Faceless Assessment Unit (FAU) of the Income Tax Department for Assessment Year 2020-21. The demand of ₹806.18 Crores has been raised under Section 156 of the Income Tax Act, 1961. The disputed items relate to taxability of income from foreign branches, broken period interest paid on purchase of securities, and bad debts written off under Section 36(1)(vii). The Bank plans to file an appeal before the Commissioner of Income Tax (Appeals) / National Faceless Appeal Centre or a writ petition before the Hon'ble High Court. The Bank expects the entire demand to subside based on precedents and states there is no impact on financial operations or other activities.
Despite the large demand size, the Bank maintains there is no financial or operational impact as it expects the demand to be overturned on appeal. Shareholders should monitor the appeal outcome, but near-term this is unlikely to materially affect the stock given the Bank's confidence in its position.