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Income taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Expense

Income tax expense is comprised of the following:

		Fiscal year ended March 31,
		2022				2023				2024				2024
		(In millions)
Current tax expense		Rs.	142,446.5			Rs.	156,782.9			Rs.	140,308.9			US$	1,683.6
Deferred tax expense/ (benefit)			(9,887.3	)			12,280.9				(57,133.2	)			(685.5	)
Interest on income tax refund			—				(2,946.4	)			(5,348.6	)			(64.2	)
Income tax expense		Rs.	132,559.2			Rs.	166,117.4			Rs.	77,827.1			US$	933.9

Reconciliation of Income Taxes at Indian Statutory Income Tax Rate to Income Tax Expense as Reported

Taxes at the Indian statutory income tax rate, the income tax rate of the Bank’s country of domicile, to income tax expense as reported:

		Fiscal year ended March 31,
		2022				2023				2024				2024
		(In millions)
Income before income tax expense		Rs.	519,162.2			Rs.	662,381.8			Rs.	705,459.0			US$	8,465.0
Statutory income tax rate			25.17	%			25.17	%			25.17	%			25.17	%
Expected income tax expense			130,662.7				166,708.3				177,549.9				2,130.4
Adjustments to reconcile expected income tax to actual tax expense
Interest on income tax refund			—				(2,204.9	)			(4,125.0	)			(49.5	)
Stock-based compensation			3,493.1				1,645.9				(10,645.6	)			(127.7	)
Income subject to rates other than the statutory income tax rate			(2,347.6	)			(6.8	)			(1,262.0	)			(15.1	)
Special reserve			—				—				(5,143.2	)			(61.7	)
Unrecognised tax benefit of earlier years including consequential tax credit pursuant to favourable orders received recognised											(80,874.4	)			(970.4	)
Other, net			751.0				(25.1	)			2,327.4				27.9
Income tax expense		Rs.	132,559.2			Rs.	166,117.4			Rs.	77,827.1			US$	933.9

Tax Effects of Significant Temporary Differences

The tax effects of significant temporary differences are as follows:

		As of March 31,
		2023				2024				2024
		(In millions)
Tax effect of:
Deductible temporary differences:
Allowance for credit losses		Rs.	74,143.7			Rs.	43,093.6			US$	517.1
Investments AFS debt securities			25,117.0				7,704.7				92.4
Lease liabilities			24,578.8				32,034.7				384.4
Employee benefits			709.9				4,632.2				55.6
Borrowings			1.4				10,714.9				128.6
Stock based compensation			—				20,166.2				241.9
Others			5,458.1				320.1				3.9
Deferred tax asset			130,008.9				118,666.4				1,423.9
Taxable temporary differences:
ROU Asset			24,578.8				32,009.3				384.1
Loan origination cost			7,070.1				7,541.1				90.5
Intangible assets			—				313,272.2				3,759.0
Investments, others			8,304.6				53,998.2				647.9
Deferred tax liability			39,953.5				406,820.8				4,881.5
Net deferred tax asset/ (liability)		Rs.	90,055.4			Rs.	(288,154.4	)		US$	(3,457.6	)

Reconciliation of Beginning and Ending Balance of Unrecognized Tax Benefits

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

		Fiscal year ended March 31,
		2022				2023				2024				2024
						(In millions)
Opening balance			Rs. 43,048.0			Rs.	46,774.3			Rs.	48,792.1			US$	585.5
Increase related to acquisition of eHDFC			—				—				52,980.5				635.7
Decrease related to prior year tax positions			(1,985.0	)			—				(80,874.4	)			(970.4	)
Increase related to current year tax positions			5,711.3				2,017.8				1,144.1				13.7
Closing balance			Rs. 46,774.3			Rs.	48,792.1			Rs.	22,042.3			US$	264.5

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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- Definition

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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- Definition

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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