Federal Bank Gets ₹490 Cr Income Tax Refund

Federal Bank received Income Tax Department orders on 26 March 2026 under Section 254 of the Income Tax Act, 1961.
The orders give effect to ITAT's ruling dated 13 August 2024 for Assessment Years 2015-16 and 2017-18.
Aggregate refund including interest under Section 244A amounts to ₹489.60 crore (~₹490 crore).