DBT Bureau
Pune, 21 March 2026
India’s largest lender,State Bank of India has received a massive income tax demand of ₹63,375 crore (including interest) from the Income Tax Department. The demand concern to the Assessment Year 2023-24 and was raised following scrutiny assessment proceedings, according to a regulatory filing under SEBI Regulations.
SBI stated that similar issues are already under litigation for previous years and confirmed that it will challenge the order before appellate authorities within the prescribed timeline.
SBI, as a dominant player in India’s banking landscape, continues to maintain robust capital buffers to navigate such regulatory and fiscal challenges.
The bank clarified that the development has no impact on its operations or other business activities.
