Bank of Baroda Receives ₹806 Crore Demand Notice from Income Tax Dept.
Bank of Baroda received a demand notice of ₹806.18 Crore from the Income Tax Department for AY 2020-21 on March 30, 2026. The bank believes the demand will subside and expects no financial impact, planning to appeal the order.
A demand notice of ₹806.18 Crore is a substantial amount. While the bank expects no financial impact and plans to appeal, the initial notice itself warrants a medium impact due to the potential financial and legal implications until the appeal is resolved.
The company has received a significant demand notice from the Income Tax Department, which could be perceived negatively. However, the bank has explicitly stated that there is no impact on its financial operations and that it expects the demand to subside after filing an appeal, thus maintaining a neutral stance.
Bank of Baroda announced on March 30, 2026, that it has received a demand notice from the Faceless Assessment Unit of the Income Tax Department for the Assessment Year 2020-21.
The demand order amounts to ₹806.18 Crore under Section 156 of the Income Tax Act, 1961. The issues cited relate to the taxability of income from foreign branches, broken period interest paid on securities purchase, and bad debts written off.
The bank stated that this demand notice has no impact on its financial operations or other activities. Bank of Baroda is in the process of filing an appeal before the Commissioner of Income Tax (Appeals) or potentially a Writ Petition, believing it has strong grounds to substantiate its position and expects the demand to be fully subsided.
What to do with a filing like this
Bank of Baroda filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Bank of Baroda. Read the original for the full detail.