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Income taxes (Tables)

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure Table

Income tax expense is comprised of the following:

		Years ended March 31,
		2014				2015				2016				2016
		(In millions)
Current income tax expense		Rs.	44,324.2			Rs.	54,954.4			Rs.	68,947.3			US$	1,040.7
Deferred income tax (benefit) expense*			(1,994.6	)			(352.1	)			(1,410.4	)			(21.3	)
Interest on income tax refund			(25.4	)			(82.4	)			—				—
Income tax expense		Rs.	42,304.2			Rs.	54,519.9			Rs.	67,536.9			US$	1,019.4

* Includes deferred income tax benefits on the amortization of intangible assets of Rs. 495.6 million, Rs. 74.4 million and Rs. 2.4 million for fiscals March 31, 2014, March 31, 2015 and March 31, 2016, respectively.

Reconciliation Of Statutory Federal Tax Rate

The following is the reconciliation of estimated income taxes at the Indian statutory income tax rate to income tax expense as reported:

		Years ended March 31,
		2014				2015				2016				2016
		(In millions)
Income before income tax expense		Rs.	121,750.4			Rs.	154,024.6			Rs.	185,586.8			US$	2,801.3
Statutory income tax rate			33.99	%			33.99	%			34.61	%			34.61	%
Expected income tax expense			41,383.0				52,353.0				64,227.9				969.5
Adjustments to reconcile expected income tax to actual tax expense
Interest on income tax refund, net of tax effect			(16.8	)			(54.4	)			—				—
Nondeductible stock-based compensation			1,867.9				3,106.3				4,358.5				65.8
Income exempt from taxes			(450.9	)			(1,026.6	)			(1,140.5	)			(17.2	)
Effect of change in statutory tax rate			(606.6	)			—				(274.3	)			(4.1	)
Other, net			127.6				141.6				365.3				5.4
Income tax expense		Rs.	42,304.2			Rs.	54,519.9			Rs.	67,536.9			US$	1,019.4

Components of Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences are as follows:

		As of March 31,
		2015				2016				2016
		(In millions)
Tax effect of:
Deductible temporary differences:
Allowance for loan losses		Rs.	12,576.7			Rs.	14,396.4			US$	217.3
Investments, others			4.6				—				—
Derivatives			820.9				497.2				7.5
Employee benefits			1,225.8				1,579.6				23.8
Others			3,212.8				3,146.1				47.6
Deferred tax asset			17,840.8				19,619.3				296.2
Taxable temporary differences:
Property and equipment			891.3				935.2				14.1
Loan origination cost			1,944.9				2,291.2				34.6
Investments, others			—				117.3				1.8
Unrealized gain on securities available for sale			5,209.8				5,583.4				84.3
Intangible assets			4.1				1.7				—
Deferred tax liability			8,050.1				8,928.8				134.8
Net deferred tax asset (liability)		Rs.	9,790.7			Rs.	10,690.5			US$	161.4

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of unrecognized tax benefits is as follows:

		Year ended March 31,
		2015				2016				2016
		(In millions)
Opening balance		Rs.	648.3			Rs.	648.3			US$	9.8
Increase/(decrease) related to prior year tax positions			—				—				—
Closing balance		Rs.	648.3			Rs.	648.3			US$	9.8

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Tabular disclosure of the change in unrecognized tax benefits.

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-URI http://asc.fasb.org/extlink&oid=75116239&loc=d3e36027-109320

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