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Yes Bank on Wednesday (April 16, 2025) said it has received a demand notice of \u20b9244.20 crore for assessment year 2016-17.<\/p>\n

\u201cThe reassessment order considered the income reported in the return of income instead of assessed income, for computing the reassessed income and tax thereon,\u201d Yes Bank said in a regulatory filing.<\/p>\n

\u201cTowards this, on April 15, 2025, the Jurisdictional Assessing Officer (JAO), passed the rectification order rectifying the mistake and recomputed the tax demand,\u201d it said.<\/p>\n

“The said rectification order read with Computation Sheet and Notice of Demand has however resulted into additional tax demand of \u20b9244.20 crore…has been recomputed significantly upwards, without any cogent reasons,” it said.<\/p>\n

\u201cAgainst this order, the bank would file rectification application with JAO on an immediate basis as the demand appears to be unsubstantiated, and further, the bank would pursue all other available remedies, including filing an appeal,\u201d it said. <\/p>\n