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Income taxes (Tables)

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure Table

Income tax expense is comprised of the following:

		Fiscal year ended March 31,
		2017				2018				2019				2019
		(In millions)
Current tax expense		Rs.	84,273.5			Rs.	108,676.0			Rs.	128,050.2			US$	1,851.5
Deferred tax (benefit) expense			(5,048.6	)			(10,403.5	)			(8,129.4	)			(117.6	)
Interest on income tax refund			0.0				0.0				(527.3	)			(7.6	)
Income tax expense		Rs.	79,224.9			Rs.	98,272.5			Rs.	119,393.5			US$	1,726.3

Reconciliation Of Statutory Federal Tax Rate

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

		Fiscal year ended March 31,
		2017				2018				2019				2019
		(In millions)
Income before income tax expense		Rs.	219,965.5			Rs.	277,106.4			Rs.	339,959.0			US$	4,915.5
Statutory income tax rate			34.61	%			34.61	%			34.94	%			34.94	%
Expected income tax expense			76,125.7				95,901.0				118,795.3				1,717.7
Adjustments to reconcile expected income tax to actual tax expense
Interest on income tax refund			0.0				0.0				(343.0	)			(5.0	)
Stock-based compensation			2,839.0				2,282.3				1,867.2				27.0
Income exempt from taxes			(997.2	)			(524.8	)			(1,422.8	)			(20.6	)
Effect of change in statutory tax rate			0.0				(209.2	)			0.0				0.0
Other, net			1,257.4				823.2				496.8				7.2
Income tax expense		Rs.	79,224.9			Rs.	98,272.5			Rs.	119,393.5			US$	1,726.3

Components of Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences are as follows:

		As of March 31,
		2018				2019				2019
		(In millions)
Tax effect of:
Deductible temporary differences:
Allowance for loan losses		Rs.	30,732.5			Rs.	39,604.8			US$	572.7
Unrealized loss on available for sale debt securities			2,491.2				0.0				0.0
Property and equipment			0.0				383.8				5.5
Derivatives			309.8				289.1				4.2
Employee benefits			1,905.5				2,063.1				29.8
Others*			4,718.5				5,511.9				79.7
Deferred tax asset			40,157.5				47,852.7				691.9
Taxable temporary differences:
Property and equipment			434.0				0.0				0.0
Loan origination cost and fees			4,957.9				5,606.3				81.1
Investments, others			479.2				2,677.0				38.7
Unrealized gain on available for sale debt securities			0.0				5,680.2				82.1
Intangible assets			0.3				0.0				0.0
Deferred tax liability			5,871.4				13,963.5				201.9
Net deferred tax asset (liability)		Rs.	34,286.1			Rs.	33,889.2			US$	490.0

Reconciliation Of Unrecognized Tax Benefits

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

		Fiscal year ended March 31,
		2018				2019				2019
		(In millions)
Opening balance		Rs.	648.3			Rs.	648.3			US$	9.4
Increase/(decrease) related to prior year tax positions			0.0				13,799.8				199.5
Closing balance		Rs.	648.3			Rs.	14,448.1			US$	208.9

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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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