India’s Life Insurance Gets Notice for $654 Million Back Taxes

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

To contact the editors responsible for this story:
Lulu Yilun Chen at ychen447@bloomberg.net

Ravil Shirodkar

© ...