Karur Vysya Bank Appeals ₹1.6-billion Tax Demand

Karur Vysya Bank announced in an exchange filing on Thursday that it has filed an appeal with the Commissioner of Income Tax against a tax demand of ₹1.6 billion for the financial year 2022–2023.

The demand pertains to “certain additions and disallowances.” The bank stated that it expects the entire amount to be set aside and affirmed that there is no impact on its financial or operational performance.