SBI receives Rs 6,338 crore income tax demand for AY24
The Economic Times·2026-03-20 17:15
Group 1 - State Bank of India (SBI) has received an income tax demand of Rs 6,338 crore for the assessment year 2023-24, which includes interest payments [5] - SBI plans to contest the income tax demand and will take appropriate steps, including appealing to appellate authorities within the prescribed timelines [5] - The income tax department has imposed a penalty of Rs 5.5 crore on IDBI Bank for the financial year 2020-21 [2][5] Group 2 - ICICI Bank announced that it received a goods and service tax demand of Rs 384 crore from the Maharashtra GST department, along with an equivalent amount of penalty and interest for services provided to customers maintaining specified minimum balances [2][5]