Tax & Penalty7 May 2026, 07:42 pm
Religare's Care Health Tax Liability Reduced to ₹45.16 Cr
AI Summary
Care Health Insurance Limited (CHIL), a subsidiary of Religare Enterprises Ltd, received a Rectification Order under Section 154 of the Income-tax Act, 1961, reducing its net tax liability for Assessment Year 2023-24 from ₹89.02 Crore to ₹45.16 Crore. The order rectifies a technical error in the previous demand order. CHIL had earlier filed an appeal against the original assessment order, which is currently pending adjudication.
Key Highlights
- Care Health's tax liability reduced from ₹89.02 Cr to ₹45.16 Cr.
- Rectification order addresses a technical error in tax computation.
- CHIL's appeal against the original assessment order is still pending.
- The reduced tax liability impacts the financials of CHIL, consolidated with REL.