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Yes Bank Receives ₹345 Crore Income Tax Refund for AY 2016-17
Yes Bank has received a consolidated Order Giving Effect (OGE) from the Income Tax department for Assessment Year 2016-17, resulting in a refund of approximately ₹345 Crores. This refund includes interest under section 244A and follows successful appeals against previous assessment and reassessment orders. A significant portion of this amount will be recognized in the bank's Profit and Loss statement, providing a one-time boost to its net profit. This resolution marks the end of a long-standing tax dispute that originated in 2018.
Key Highlights
Income tax refund of approximately ₹345 Crores determined for AY 2016-17
Refund includes interest component under section 244A of the Income-tax Act
Amount to be recognized in the P&L statement exceeds the bank's materiality threshold
Order received on December 31, 2025, following favorable first-level appellate authority rulings
👀 What to Watch
Investors should factor in this one-time gain for the upcoming quarterly results, which will improve net profit and ROA. However, focus should remain on core interest income and asset quality as this is a non-recurring item.
