RNS Number : 4131G
Axis Bank Limited
01 October 2024
 

 

 

October 1, 2024

 

Dear Sir/Madam,        

       

SUB:

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

 

This is to inform you that the Income Tax Department, Additional DIT (I&CI) vide its Order dated September 27, 2024 and communicated to us vide their e-mail dated September 30, 2024, has imposed a monetary penalty of Rs. 50,000 (Rupees Fifty thousand only) under Section 271FAA of the Income Tax Act, 1961 (the Act), with regard to furnishing inaccurate information under Section 285BA(1)(k) of the Act.

 

The Bank is reviewing the Order and evaluating appropriate legal remedy, including filing an appeal, as per law.

 

The relevant information is attached as Annexure A.

 

This is for your information and records.

 

Thanking you.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

 

Encl.: As above.

 

CC: London Stock Exchange

        Singapore Stock Exchange

Annexure A

 

Sr No

Particulars

Details

1

Name of the Authority

Additional DIT (I&CI), Ahmedabad

2

Nature and details of the action(s) taken, initiated or order(s) passed

Order u/s. 271FAA of the Income Tax Act, 1961

3

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority

September 30, 2024

4

Details of the violation(s)/ contravention(s) committed or alleged to be committed

The Bank has received an order u/s. 271FAA in respect of furnishing inaccurate information u/s 285BA(1)(k) of the Income tax Act, 1961

5

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible

Penalty levied amounting to Rs. 50,000/-

 

The Bank does not expect any material impact on financial, operation or other activities of the Bank due to the said order.

 

 

 

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