Federal Bank to Receive ₹686 Crore Refund from Income Tax Dept.
The Federal Bank will receive a refund of ₹686.31 crore from the Income Tax Department. This refund pertains to Assessment Years 2011-12, 2012-13, and 2013-14, including interest.
A refund of ₹686.31 crore is a material amount that could positively impact the bank's financial position, though its exact impact depends on the bank's overall financial health and liquidity.
The company is set to receive a significant refund from the Income Tax Department, which is a positive financial development.
The Federal Bank Limited has announced that it has received orders from the Income Tax Department, Corporate Circle 2 (1), Kochi, on 18 February 2026, at 5:34 p.m. These orders, issued under Section 254 of the Income Tax Act, 1961, give effect to the Hon’ble ITAT order dated 13 August 2024, through subsequent orders dated 23 January 2026 and 28 January 2026.
As per these orders, the aggregate amount refundable to the Bank for Assessment Years 2011-12, 2012-13, and 2013-14, including interest under Section 244A of the Income-tax Act, amounts to ₹686,31,48,368. This translates to approximately ₹686.31 crore.
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