3% on Receiving ₹835.07 Crore Tax Refund for AY 2022-23

Indian Overseas Bank (IOB) has reported receiving a tax refund of ₹835.07 crore from the Income Tax Department for the Assessment Year 2022-23. The bank shared this update in a filing addressed to the stock exchanges, stating that the order was issued after authorities completed work on an earlier appeal connected to the same financial year.  

Amount Includes Interest 

According to the disclosure, the total refund amounts to ₹835,07,83,969, and this figure includes interest calculated under the Income Tax Act. The refund order was dated November 21, 2025, and shows the department’s final computation based on the appeal outcome. This amount is what the bank is now eligible to receive for that year.  

Background to the Order 

The bank’s previous appeal was handled earlier in July 2025. Following that, tax authorities were required to reassess the position and issue a fresh order. The latest communication confirms that the reassessment has been completed, and the refund amount has been finalised. The order formally closes the tax matter linked to that specific assessment period.  

Information Shared with Exchanges 

Indian Overseas Bank informed both BSE and NSE about the refund through a notice dated November 25, 2025. The filing was issued from the bank’s Chennai headquarters and signed by the compliance officer. The letter stated that the bank has received the order and is providing information for record-keeping purposes as required.  

Read More: Indian Overseas Bank Sees 58% YoY Rise in Q2 Profit to ₹1,226 Crore! 

Indian Overseas Bank (IOB) Share Price Performance  

As of November 26, 2025, 10:23 AM, Indian Overseas Bank (IOB) share price was trading at ₹40.02, a 3.04% increase from the previous closing price. 

Conclusion 

With the approval of the refund totaling ₹835.07 crore, the tax assessment matter for FY 2022-23 stands completed for Indian Overseas Bank. The credited amount includes interest and reflects the final decision communicated by the tax authorities. 

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