Indian Overseas Bank has disclosed that it will receive an income tax refund of ₹835.08 crore for Assessment Year 2022–23, following an order issued by the Income Tax Department to give effect to a ruling by the Commissioner of Income Tax (Appeals).
In an exchange filing on Tuesday, November 25, the bank said it received the order under Section 250 of the Income Tax Act, 1961, dated November 21, 2025. The refund amount includes interest payable under Section 244A.
The bank informed the exchanges that the communication from the tax authorities was received via e-mail on November 24, 2025. Shares of Indian Overseas Bank closed ₹0.45, or 1.17%, higher at ₹38.88 on Tuesday, ahead of the announcement.
Last month, the bank reported a 21% year-on-year increase in net interest income (NII) for the September quarter to ₹3,059 crore, up from ₹2,537 crore a year earlier.
Net profit for the period stood at ₹1,226 crore, marking a 58% rise from the year-ago quarter’s profit of ₹777 crore.
