Indian Overseas Bank has informed that the Bank has received Notice of Demand under Section 156 of Income Tax Act, 1961 from office of the Deputy Commissioner of Income-tax, Non-Corporate Circle-8 (1), Chennai- 600034 pertaining to AY 2017-18. The Bank is in the process of challenging the said order in the appropriate forum against disallowances/additions made in the said order within the prescribed guidelines. The requisite disclosure as required under Industry Standards Note on Regulation 30 of the LODR Regulations is enclosed.
The above information is a part of company’s filings submitted to BSE.
