ICICI Bank Faces Rs 229 Crore Tax Demand Over Minimum Balance

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ICICI Bank has received a tax demand notice for Rs 229 crore from the Income Tax Department. The order pertains to the tax treatment of charges collected from customers for not maintaining a minimum balance. The demand is for the assessment year 2017-18. The bank has stated that it will file an appeal against the order with the Commissioner of Income Tax.

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