IDBI Bank Ltd receives IT refund order for Rs. 2701.62 crores

IDBI Bank Ltd has received an Order under Section 254 r.w. Section 143(3) of the Income Tax Act, 1961 from the Income Tax Department, Government of India for the Assessment Year 2016-17 on June 07, 2024. As per the order, refund of Rs. 2701.62 crores (including interest) has been determined. The Bank is in the process of evaluating the implications of this order on the financial statements.

Shares of IDBI Bank Limited was last trading in BSE at Rs. 85.46 as compared to the previous close of Rs. 83.73. The total number of shares traded during the day was 997054 in over 5404 trades.

The stock hit an intraday high of Rs. 86.36 and intraday low of 83.65. The net turnover during the day was Rs. 84430802.00.

Source : Equity Bulls

Keywords

IDBIBank INE008A01015 ITRefundOrder