Federal Bank to receive Rs 322 crore tax refund for AY 2016-17

Business Desk — Sat, 28 Mar 2026 04:55:05 +0000

Federal Bank has announced that it is set to receive a substantial tax refund amounting to ₹322,62,67,421 for the assessment year 2016-17. This refund, including interest under Section 244A of the Income-tax Act, 1961, follows an order from the Income Tax Department, Corporate Circle 2 (1), Kochi.

The refund order was issued on 26 March 2026, in accordance with the Hon’ble Income Tax Appellate Tribunal (ITAT) order dated 13 August 2024. The bank received the official communication from the Income Tax Department on 27 March 2026 at 4:02 p.m.

This development is a result of the bank’s ongoing efforts to resolve outstanding tax matters for the specified assessment year. The refund is expected to bolster the bank’s financial position, providing additional liquidity.

Federal Bank, headquartered in Aluva, Kerala, continues to maintain its commitment to compliance and regulatory requirements, ensuring transparency and accountability in its financial dealings.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Federal Bank to receive Rs 489 crore refund from Income Tax Department

Yash Agarwal — Fri, 27 Mar 2026 07:20:15 +0000

Federal Bank is set to receive a substantial refund amounting to ₹489,60,20,918 from the Income Tax Department. The refund, which includes interest under Section 244A of the Income Tax Act, pertains to the assessment years 2015-16 and 2017-18. This development follows the issuance of orders by the Income Tax Department, Corporate Circle 2 (1), Kochi, on 26 March 2026. These orders were issued in compliance with the Hon’ble Income Tax Appellate Tribunal (ITAT) order dated 13 August 2024.

The refund order was received by the bank at 8:09 p.m. on 26 March 2026, marking a significant financial event for the bank. The orders give effect to the ITAT’s decision, which had been awaited since the tribunal’s ruling in August 2024. The bank is expected to benefit from this refund, which will positively impact its financial position.

The Federal Bank has duly informed the National Stock Exchange of India (NSE) and BSE Limited about this development, in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure ensures transparency and keeps stakeholders informed about significant financial transactions affecting the bank.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

ITAT | Business Upturn

Federal Bank to receive Rs 322 crore tax refund for AY 2016-17

Federal Bank to receive Rs 489 crore refund from Income Tax Department