Tax & Penalty30 Apr 2026, 04:41 pm
Religare's Care Health Tax Liability Halved to ₹86.66 Cr
AI Summary
Religare Enterprises Ltd's material subsidiary, Care Health Insurance Limited (CHIL), has received a Rectification Order dated April 28, 2026. This order, issued under Section 154 of the Income-tax Act, 1961, corrects a technical error in a previous demand order for Assessment Year 2022-23. Consequently, CHIL's net tax liability has been significantly reduced from ₹173.32 Crores to ₹86.66 Crores. CHIL had filed an application for rectification, which was upheld by the authority. An appeal against the original assessment order for AY 2022-23 remains pending disposal. The financials of CHIL are consolidated with Religare.
Key Highlights
- Care Health Insurance's tax liability reduced by 50%.
- Net tax liability for AY 2022-23 now stands at ₹86.66 Cr.
- Rectification order corrected a technical error in computation.
- An appeal against the original assessment order is still pending.
- Care Health Insurance is a material subsidiary of Religare.