Care Health Insurance slapped with Rs.104.7 crore Tax Demand Notice from IT Dept:

Care Health Insurance slapped with Rs.104.7 crore Tax Demand Notice from IT Dept Religare Enterprises Ltd. (REL) announced on Monday that its subsidiary Care Health Insurance has received a Rs.104.77 crore demand notice for the assessment years 2020-21 and 2021-22. The demand notice was sent by the Office of the Assistant Commissioner of Income-Tax, Central Circle 6(2) Mumbai, according to REL in a regulatory filing. Care Health Insurance's financials are merged with the company, it stated, adding that the insurance company is responsible for paying any income tax demands that may be required. Pursuant to the advice of tax consultants, Care Health intends to file an appeal against the aforementioned order before an appropriate court within the statutory timelines.