Tax-evasion showcause to 8 insurers
Minister of state for finance SS Palanimanickam told the Rajya Sabha that four insurers — Bharat Reinsurance Company, IFFCO TOKIO General Insurance Services, DLF Premierico Life Insurance and Reliance Life Insurance — who have replied to the tax notice would soon be given a personal hearing. After discussions with the companies, an adjudication order shall be passed.
The minister said the other four insurers — Apollo DKV Insurance, AVIVA Life Insurance, Sri Ram Life Insurance and Sahara India Life Insurance Corp — will be granted personal hearings once the tax department receives replies from them.
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