LIC Faces Rs 3,529 Crore Tax Demand
Life Insurance Corporation of India (LIC) has received two tax demand notices totaling Rs 3,529 crore, the company said in a regulatory filing.
Photograph: Uttam Ghosh/Rediff.com
New Delhi, Jan 11 (PTI) Life Insurance Corporation of India (LIC) on Thursday said tax authorities have slapped two demand notices aggregating to about Rs 3,529 crore on it.
The corporation has received orders from Income Tax authorities regarding Income Tax demand issued by Assistant Commissioner of Income Tax, Mumbai, LIC said in a regulatory filing.
LIC would file an appeal before the Commissioner (Appeals), Mumbai, against the said orders within the prescribed timelines, it said.
There is no material impact on financials, operations or other activities of the corporation, according to LIC.
The corporation has received orders from Income Tax authorities regarding Income Tax demand issued by Assistant Commissioner of Income Tax, Mumbai, LIC said in a regulatory filing.
LIC would file an appeal before the Commissioner (Appeals), Mumbai, against the said orders within the prescribed timelines, it said.
There is no material impact on financials, operations or other activities of the corporation, according to LIC.
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