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Karur Vysya Bank Faces Rs. 160.33 Crore Tax Demand

Story Highlights
  • Karur Vysya Bank Ltd. faces a Rs. 160.33 crore tax demand from the Income Tax Department.
  • The bank plans to appeal, asserting no impact on its financial or operational activities.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Karur Vysya Bank Faces Rs. 160.33 Crore Tax Demand

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An announcement from Karur Vysya Bank Ltd. ( (IN:KARURVYSYA) ) is now available.

Karur Vysya Bank Ltd. has announced that the Income Tax Department has raised a demand of Rs. 160.33 crore for the assessment year 2023-24, related to financial year 2022-23, due to certain additions and disallowances. The bank plans to appeal the decision, asserting that it has strong legal grounds to contest the demand, and assures stakeholders that the demand will not impact its financial or operational activities.

More about Karur Vysya Bank Ltd.

Karur Vysya Bank Ltd. operates in the banking industry, offering a range of financial services including loans, deposits, and investment products, primarily focusing on retail and corporate banking sectors in India.

YTD Price Performance: -11.00%

Average Trading Volume: 60,263

Current Market Cap: 159.7B INR

See more data about KARURVYSYA stock on TipRanks’ Stock Analysis page.

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