Tamilnad Mercantile Bank gets INR-2.04-bln demand notice from tax department
This story was originally published at 20:09 IST on 18 March 2026
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--Tamilnad Mercantile Bank: Got INR 2.04-bln demand notice from tax dept
NEW DELHI – Tamilnad Mercantile Bank Ltd. Wednesday said it has received a demand notice for INR 2.04 billion from an assessment unit of the Income Tax Department. The demand pertains to the assessment year 2013-14 (Apr-Mar), the bank said in an exchange filing.
The tax demand notice will not have any material impact on the bank's financial statement, the lender said. The bank is in the process of filing an appeal and "the same is expected to be passed in favour of the bank," it said.
Shares of Tamilnad Mercantile Bank Wednesday ended at INR 632.50 on the National Stock Exchange, up 3.8%. For the December quarter, the bank had reported net profit of INR 3.42 billion and total income of INR 16.65 billion. End
Reported by Shweta
Edited by Akul Nishant Akhoury
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