Care Health Insurance gets ₹ 104.7 cr demand notice from Income Tax Dept

Religare Enterprises Ltd (REL) on Monday said its subsidiary Care Health Insurance has received a demand notice of Rs.104.77 crore for the assessment years 2020-21and 2021-22.

The demand notice has been sent from the Officer of the Assistant Commissioner of Income-tax, Central Circle 6(2) Mumbai, REL said in a regulatory filing.

The financials of Care health Insurance are consolidated with the company, it said, adding, that the income tax demand if required to be paid, is payable by the insurance company.

Based on the advice of tax consultants, Care Health would be filing an appeal against the said order before an appropriate forum within the prescribed timelines, it said.

Source ET CFO.com