Personal sector Sure Financial institution has obtained an revenue tax demand discover of Rs 2,209 crore for the evaluation 12 months 2019-20. The financial institution has advised the inventory markets by means of change submitting. Sure Financial institution feels that this demand is mistaken. The financial institution has stated that it obtained an order on September 30, 2021 beneath Part 144 of the Revenue Tax Act, 1961 for the Evaluation Yr 2019-20. On this, the financial institution was supplied refunds in line with the refunds claimed in earlier revenue tax returns. In April 2023, the involved evaluation 12 months was re -repaired by the Revenue Tax Division. The Nationwide Faceless Evaluation Unit of the division handed the response order on March 28, 2025. There aren’t any further dislikes/addeds, that’s, the bottom on which the response proceedings had been initiated have been deserted. On this manner, the whole revenue which was assumed within the authentic evaluation order handed beneath part 144 of the Act remained within the response order. Because of this, no demand for revenue tax ought to have been raised in opposition to the financial institution. Yas Financial institution additional stated, ‘Regardless of this, revenue tax of Rs 2209.17 crore has been demanded in computation sheet and demand discover issued beneath part 156 of the Act. It appears to be demanded at first look with none foundation. The Sure Financial institution will enchantment and take motion in opposition to this recession order beneath the utilized legislation. The financial institution has additionally stated that because of this order, its financials, operations or different actions are unlikely to be adversely affected. The share of 25 p.c in 6 months closed at Rs 16.89 on the share BSE of the shares financial institution shares at Rs 16.89. The financial institution’s market cap is about Rs 53000 crore. Within the final 6 months, the share worth has come down 25 p.c and within the 12 months 2025 up to now, about 14 p.c has come down. Public shareholders have a full one hundred pc stake within the financial institution. Multibagger Inventory: ₹ 1 lakh in 2 years, obtained greater than 400% returns in a 12 months
