ANNEXURE

Statement of Special Tax Benefits
SPECIAL TAX BENEFITS TO THE BANK
UNDER THE INCOME TAX LAWS
Possible Special tax benefits available under the Income Tax Act, 1961 (the Act):
As per the provisions of Section 80JJAA of the Act, a company subject to tax audit under section 44AB of the Act and
whose gross total income includes any profit and gains derived from business shall be entitled to claim a deduction of an
amount equal to thirty percent of additional employee cost incurred in the course of such business in the previous year,
for three assessment years including the assessment year relevant to the previous year in which such employment is
provided. The eligibility to claim the deduction is subject to fulfilment of prescribed conditions specified in sub-section
(2) of section 80JJAA of the Act.
UNDER THE INDIRECT TAX LAWS
No special tax benefits available to the Bank.
SPECIAL TAX BENEFITS TO SHAREHOLDERS OF THE BANK
There are no special direct and indirect tax benefits available to the shareholders of the Bank.

Notes:

1. The above Statement sets out the provisions of law in a summary manner only and is not a complete analysis or
listing of all potential tax consequences of the purchase, ownership and disposal of shares.

2. The above Statement covers only relevant direct and indirect special tax benefits and does not cover any benefit
under any other law.

3. The above Statement of possible special tax benefits is as per the current direct and indirect tax laws relevant for the
financial year 2020-21. Several of these benefits are dependent on the Bank fulfilling the conditions prescribed under
the relevant tax laws.

4. This Statement is intended only to provide general information to the investors and is neither designed nor intended
to be a substitute for professional tax advice. In view of the individual nature of tax consequences, each investor is
advised to consult his/her own tax advisor with respect to specific tax consequences of his/her investment in the
shares of the Bank.

5. No assurance is given that the revenue authorities/courts will concur with the views expressed herein. Our views are

based on the existing provisions of law and its interpretation, which are subject to changes from time to time. We do
not assume responsibility to update the views consequent to such changes.

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