Care Health Insurance (Religare) Unlisted Shares
Care Health Insurance gets Rs 104.7 crore demand notice from Income Tax Department
The Ecoonomic Times
2 min read
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.
Care Health Insurance faces a ₹104.77 crore tax demand but plans to appeal, ensuring compliance while protecting financial stability.
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