SBI Receives Rs 63,375 Crore Tax Demand, To Challenge Order

March 22, 2026

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SBI Receives Rs 63,375 Crore Tax Demand, To Challenge Order
State Bank of India (SBI) has received an income tax demand of Rs 63,37,52,52,550 (approximately Rs 63,375 crore), including interest, for the assessment year 2023–24, following a scrutiny assessment by the Income Tax Department, according to an exchange filing dated March 20, 2026.

Order Issued Under Income Tax Act Provisions

In a regulatory filing, the bank said the order, dated March 19, 2026, was issued under relevant provisions of the Income Tax Act. The assessment unit has made disallowances on various grounds, leading to the substantial…

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