Tax & Penalty30 Apr 2026, 03:08 pm
New India Assurance receives ₹612.34 Cr income tax refund
AI Summary
The New India Assurance Company Ltd announced that it has received an income tax refund of ₹6,12,34,48,432/- from the Income Tax Department. This refund pertains to Assessment Years 2014-15 and 2017-18. The total refund amount includes an interest component of ₹1,80,51,67,063/-. This receipt is expected to positively impact the company's cash flow and financial position.
Key Highlights
- New India Assurance received ₹612.34 Cr income tax refund.
- The refund includes ₹180.51 Cr in interest.
- It pertains to Assessment Years 2014-15 and 2017-18.
- This will positively impact the company's cash flow.
- The refund strengthens the company's financial position.