REG - Axis Bank Ltd Axis Bank Ltd (144A) - Disclosure under Reg 30 of SEBI LODR 2015

Axis BankAnnouncement

01/10/2024 07:00

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RNS Number : 4131G  Axis Bank Limited  01 October 2024

 

 

October 1, 2024

 

Dear Sir/Madam,

 

 SUB:  Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure
       Requirements) Regulations, 2015.

 

This is to inform you that the Income Tax Department, Additional DIT
(I&CI) vide its Order dated September 27, 2024 and communicated to us vide
their e-mail dated September 30, 2024, has imposed a monetary penalty of Rs.
50,000 (Rupees Fifty thousand only) under Section 271FAA of the Income Tax
Act, 1961 (the Act), with regard to furnishing inaccurate information under
Section 285BA(1)(k) of the Act.

 

The Bank is reviewing the Order and evaluating appropriate legal remedy,
including filing an appeal, as per law.

 

The relevant information is attached as Annexure A.

 

This is for your information and records.

 

Thanking you.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

 

Encl.: As above.

 

CC: London Stock Exchange

        Singapore Stock Exchange

Annexure A

 

 Sr No  Particulars                                                                 Details
 1      Name of the Authority                                                       Additional DIT (I&CI), Ahmedabad
 2      Nature and details of the action(s) taken, initiated or order(s) passed     Order u/s. 271FAA of the Income Tax Act, 1961
 3      Date of receipt of direction or order, including any ad-interim or interim  September 30, 2024
        orders, or any other communication from the authority
 4      Details of the violation(s)/ contravention(s) committed or alleged to be    The Bank has received an order u/s. 271FAA in respect of furnishing inaccurate
        committed                                                                   information u/s 285BA(1)(k) of the Income tax Act, 1961
 5      Impact on financial, operation or other activities of the listed entity,    Penalty levied amounting to Rs. 50,000/-
        quantifiable in monetary terms to the extent possible

                                                                                    The Bank does not expect any material impact on financial, operation or other
                                                                                    activities of the Bank due to the said order.

 

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