Hdfc Bank (HDB) has released an update.
HDFC Bank has been penalized Rs. 3.22 crore by the Commercial Tax Officer in Chandigarh for alleged tax discrepancies during the fiscal year 2019-20. The issue pertains to a purported short payment of tax and disallowance of input tax credit, with the total impact on the bank quantified at Rs. 63.84 crore, including tax, interest, and penalties. The bank is currently considering legal avenues for appeal against the order.
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