Axis Bank has informed 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 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.
The above information is a part of company’s filings submitted to BSE.
