Income tax dept asks SBI to pay INR 63 bln after making some disallowances
This story was originally published at 16:48 IST on 20 March 2026
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--Income tax dept sends notice to SBI to pay INR 63.38 bln
MUMBAI – The State Bank of India has got an order from the income tax department to pay INR 63.38 billion. This is after the tax department made some disallowances for the assessment year 2023-24, SBI said in an exchange filing Friday.
"The Bank is already in litigation on similar grounds in the earlier years," the filing said. "The Bank will take appropriate steps, including contesting the Order before appellate authorities within the prescribed timelines."
For the quarter ended December, SBI had reported net profit of INR 210.28 billion and total income of 1.41 trillion. Friday, shares of the company ended at INR 1,058 per share on the National Stock Exchange, up nearly 1%. End
Reported by Anshul Choudhary
Edited by Akul Nishant Akhoury
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