Income Tax Department's Hefty Demand on KVB

The income tax department has levied a significant demand of Rs 160 crore on Karur Vysya Bank (KVB), a private sector bank, due to certain additions and disallowances related to the financial year 2022-23.

Assessment Details and Bank's Response

Following the completion of a regular assessment under Section 143(3), the department issued an assessment order for AY 2023-24, demanding Rs 160.3 crore. KVB received this order on March 21, 2025, but assured that it would not affect the bank's financial, operational, or other activities.

Appeal Process Initiated

The bank is preparing to appeal against the disallowances, confident in its legal standing and optimistic about the demand being overturned.

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