Reported loss due to shift to new tax regime: Sanjiv Chadha, Bank of Baroda

"Because we have such a high taxable profit, we thought that this is the right time for us to transit into the new tax regime which lowers the tax rate for the bank from 33-34% to 25%."

source https://economictimes.indiatimes.com/industry/banking/finance/banking/reported-loss-due-to-shift-to-new-tax-regime-sanjiv-chadha-bank-of-baroda/articleshow/83113455.cms