State Bank of India (SBI) has received a demand order from the Income Tax Department amounting to Rs 6,337.5 crore, including interest, under various sections of the Income Tax Act, 1961.
The order, dated March 19, 2026, arises from scrutiny assessment proceedings for the assessment year 2023–24, where disallowances were made on various grounds.
SBI clarified that similar issues are already under litigation for previous years, and the bank intends to contest the latest order before the appellate authorities within the prescribed timelines.
The bank emphasised that the order has no impact on its operations or other activities, and the disclosure has been made in compliance with Regulation 30 of Sebi’s Listing Obligations and Disclosure Requirements Regulations, 2015, as the demand amount exceeds the materiality threshold while reassuring of its operational stability.