Yes Bank Faces ₹1.45 Billion Income-Tax Demand: Navigating Financial Challenges

Yes Bank has received an income-tax demand of ₹1.45 billion, adding to the bank's financial challenges. This development comes after Yes Bank recently faced a service tax demand order with a penalty of over ₹6.42 crore. Despite these tax-related issues, the bank remains focused on its recovery path, having made significant strides in improving its asset quality and profitability. Yes Bank is likely to appeal against the income-tax demand, following its standard practice of contesting such orders. The bank's resilience in managing regulatory demands reflects its commitment to maintaining financial stability and compliance.

 

Source: Business Standard, CNBC-TV18