Legal11 Mar 2026, 04:12 pm
SBI Life Insurance Receives Income Tax Assessment Order of Rs. 537.75 Crore for FY 2023-2024
AI Summary
SBI Life Insurance Company Ltd. has received an Income Tax Assessment Order from the Faceless Assessment Unit, Income Tax Department on March 11, 2026, at 12.29 am. The order, which pertains to the Financial Year 2023-2024, has enhanced the income by disallowing exemptions and charging income under sections 10(15), 10(23AAB), and 56 of the Income Tax Act. The total demand, including interest, stands at Rs. 537.75 crore. The Company will contest the order by filing an appeal before the Appellate Authority.
Key Highlights
- SBI Life Insurance received an Income Tax Assessment Order on March 11, 2026
- The order pertains to the Financial Year 2023-2024
- The Income Tax Department has enhanced the income by disallowing exemptions and charging income under various sections
- The total demand, including interest, stands at Rs. 537.75 crore
- SBI Life Insurance will contest the order by filing an appeal before the Appellate Authority