Indian Overseas Bank receives IT refund order

Indian Overseas Bank has received an order under Section 250 of the Income Tax Act,1961 advising the Bank that an order dated 22.08.2024 has been passed giving effect to the order of CIT (Appeals) dated 12.12.2023.

As per the order dated 22.08.2024 (uploaded in Income-tax Portal) on 18.09.2024, the amount refundable to the Bank for the AY 2021-22 including interest u/s 244A of the Income-tax Act is Rs. 123,86,61,549/-

Further, we wish to inform you that the order was uploaded in the Income-tax Portal on 18.09.2024 and the Bank became aware of the information in respect of the above said order on 19.09.2024.

Shares of Indian Overseas Bank was last trading in BSE at Rs. 57.46 as compared to the previous close of Rs. 59.01. The total number of shares traded during the day was 776386 in over 6618 trades.

The stock hit an intraday high of Rs. 59.64 and intraday low of 57.08. The net turnover during the day was Rs. 44944201.00.

Source : Equity Bulls

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IndianOverseasBank INE565A01014 IOB ITOrder