Go Digit General Insurance Ltd Receives Income Tax Demand of Rs. 3,84,43,19,480 for AY 2023-24

Go Digit General Insurance Ltd has received an order from the Office of the Assistant Commissioner of Income-Tax, Central Circle 6(2), Mumbai, raising an Income-tax demand under section 156 of the Income Tax Act, 1961 for the Assessment Year 2023-24. The demand includes an income tax of Rs. 3,84,43,19,480 and interest of Rs. 1,00,38,89,700 under section 234B of the Act. The disallowances primarily relate to industry-wide issues. The company is evaluating the legal advice on the implications of the order and will pursue an appeal or evaluate other appropriate actions.