Care Health Insurance (Religare) Unlisted Shares
Care Health Insurance - Receives ₹140.20 Crore Income Tax Demand
SCANX
2 min read
Expert Analysis:
Care Health Insurance, a material subsidiary of Religare Enterprises Ltd, has received income tax demand orders totaling ₹140.20 crore (including interest) for AY 2023-24 and 2024-25 from the Income Tax Department.
The company has disputed the tax computation, stating that the demand has been incorrectly calculated, and expects the liability to reduce to around ₹96 crore after rectification.
The demand arises from disallowances related to provisions (IBNR/IBNER), outstanding claims, TDS compliance issues, and marketing expenses, indicating technical accounting and tax treatment differences.
Care Health Insurance plans to file rectification applications and pursue appeals, backed by favourable judicial precedents in similar matters.
Key Takeaway:
The ₹140.20 crore tax demand on Care Health Insurance introduces a regulatory overhang; however, with expected reduction to ~₹96 crore and planned legal recourse, the financial impact may be moderated, though it remains a key monitorable for Religare’s consolidated performance.
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