HDFC Bank Faces Tax Penalty in Tamil Nadu

Hdfc Bank (HDB) has released an update.

HDFC Bank has been penalized Rs. 0.72 crore by the Deputy Commissioner of State Tax, Tamil Nadu, for allegedly claiming excess input tax credit during the fiscal year 2020-21. The total financial impact, including tax and penalty, amounts to Rs. 7.88 crore. The bank is considering legal options, including an appeal, to address the penalty.

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