Religare Enterprises' Subsidiary Care Health Insurance Receives Rs 140.20 Crore Income Tax Demand
Care Health Insurance Limited, a material subsidiary of Religare Enterprises, received income tax demand orders totaling Rs 140.20 crores for assessment years 2023-24 and 2024-25 from Mumbai tax authorities. The company disputes the computation and expects the rectified demand to be approximately Rs 96 crores after filing a rectification application. CHIL plans to file an appeal against the orders, with the primary adjustments relating to insurance provisions and expense disallowances that have been previously ruled in the company's favor by various judicial forums.
