TMB Receives ₹5.37 Cr Income Tax Demand

Tamilnad Mercantile Bank received an income tax demand of ₹5,36,62,680 for AY 2024-25 on March 30, 2026.
The demand arose from disallowance under Section 14A read with Rule 8D of the Income Tax Act, 1961.
The bank intends to file an appeal and expects the order to be passed in its favour; no material financial impact anticipated.