Life Insurance Corp. of India said it received a notice from the income tax authorities seeking 61.47 billion rupees ($654 million) in past dues and 9.53 billion rupees in interest, according to a filing late Wednesday.
The notice pertains to financial year ended 2021-2022
LIC said it will file an appeal before the Commissioner of Income Tax and expects no material impact on its financials, operations or other activities: filing
To contact the reporter on this story:
Ranjani Raghavan in Mumbai at rraghavan26@bloomberg.net
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Lulu Yilun Chen at ychen447@bloomberg.net
Ravil Shirodkar
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India’s Life Insurance Gets Notice for $654 Million Back Taxes
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