HDFC Life Insurance gets I-T order for ₹172 crore
The Hindu
HDFC Life Insurance faces ₹172 crore Income Tax order for alleged violations, plans to appeal the decision.
HDFC Life Insurance Company has received an Income Tax order asking it to pay a little over ₹172 crore.
Consisting of ₹126.46 crore tax demand, ₹45.55 crore interest, and nil penalty, the order from the Income Tax authorities in Mumbai is for Assessment Year 2023-24 (financial year 2022-23) and related to multiple alleged violations.
The list includes classification of shareholders’ net investment income under a different head, as well as certain marketing and advertising expense in financials considered as admissible expense incorrectly while calculating the taxable surplus in policyholder’s account.
The order will have no adverse material impact on the financial operations, and the company will file an appeal before the Appellate Authority, HDFC Life said in a filing on Tuesday (March 24, 2026).
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