Tax violation notices served on Reliance Life, Sahara Life, other insurers
The other insurance companies on which the Tax department has served show-cause notices are Aviva Life, DLF Pramerica Life, Sri Ram Life, IFFCO-TOKIO General Insurance, Apollo DKV and Bharat Reinsurance.
This was stated by Minister of State for Finance S S Palanimanickam in a written reply to the Rajya Sabha. Out of the eight companies, Reliance Life, DLF Pramerica, IFFCO TOKIO General and Bharat Reinsurance have submitted their replies to the government, he said.
Palanimanickam said: "In cases where the companies have submitted the reply, a personal hearing will be held and adjudication orders (will be) passed".
In cases wherein reply is yet to be submitted, the Minister said, personal hearings will be conducted after receipt of the replies of the companies.
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