Care Health Insurance gets Rs 104.7 crore demand notice from Income Tax Department

Care Health Insurance Receives ₹104.77 Crore demand notice from Income Tax Department.

Expert Analysis :

• Tax Demand Notice: Care Health Insurance, a subsidiary of Religare Enterprises Ltd (REL), has received a ₹104.77 crore demand notice for assessment years 2020-21 and 2021-22.

• Issuing Authority: The notice was issued by the Assistant Commissioner of Income-Tax, Central Circle 6(2), Mumbai, as per REL’s regulatory filing.

• Financial Responsibility: Care Health Insurance’s financials are consolidated with REL, and any required income tax payment will be borne by the insurance company.

• Planned Appeal: Based on tax consultants' advice, Care Health Insurance will file an appeal against the order before an appropriate forum within the prescribed timelines.