Kolkata: State Bank of India has received an income tax demand of Rs 6338 crore for assessment year 2023-24. The bank said it will contest it.
The demand, which includes interest payment, was raised after scrutiny of the assessment proceedings conducted for the said period, SBI said in a stock exchange notice.
"The bank will take appropriate steps, including contesting the Order before appellate authorities within the prescribed timelines," it said.
Meanwhile, the assessment unit of the income tax department imposed a Rs 5.5 crore penalty on IDBI Bank for financial year 2020-21.
The ICICI Bank on Thursday announced that it received a goods and service tax demand of Rs 384 crore from the Maharashtra GST department and an equivalent amount of penalty and interest as applicable on services provided by the bank to customers maintaining specified minimum balances in their accounts.
The demand, which includes interest payment, was raised after scrutiny of the assessment proceedings conducted for the said period, SBI said in a stock exchange notice.
"The bank will take appropriate steps, including contesting the Order before appellate authorities within the prescribed timelines," it said.
Meanwhile, the assessment unit of the income tax department imposed a Rs 5.5 crore penalty on IDBI Bank for financial year 2020-21.
The ICICI Bank on Thursday announced that it received a goods and service tax demand of Rs 384 crore from the Maharashtra GST department and an equivalent amount of penalty and interest as applicable on services provided by the bank to customers maintaining specified minimum balances in their accounts.
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