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News
Life Insurance Corporation of India gains approval to increase stake in HDFC Bank to 9.99%
11+ hour, 36+ min ago (250+ words) The Reserve Bank of India (RBI) has granted approval to Life Insurance Corporation of India (LIC) to acquire up to 9.99% of the paid-up share capital or voting rights in HDFC Bank Limited. This approval, as per a regulatory filing by HDFC…...
ICICI Prudential Life Insurance outlines promoter reclassification amid Bharti Life acquisition
1+ mon, 2+ week ago (241+ words) ICICI Prudential Life Insurance Company Limited has disclosed a significant development concerning its promoters, ICICI Bank Limited and Prudential Corporation Holdings Limited. The two entities have entered into a letter of undertaking to manage potential conflicts of interest arising from…...
Life Insurance Corporation faces Rs 85,76 crore income tax demand for FY 2023-24
4+ mon, 3+ week ago (124+ words) Business Upturn The Life Insurance Corporation of India (LIC) has received a significant demand order from the Income Tax Department, amounting to â¹85,76,81,60,095 for income tax and â¹17,54,45,02,265 as interest for the financial year 2023-24. The demand arises from disallowances made for…...
Life Insurance Corporation faces Rs 61,467 crore income tax demand for FY 2021-22
4+ mon, 3+ week ago (119+ words) Business Upturn The demand arises from disallowances made on several issues, including the addition of interim bonus, loss from the Jeevan Suraksha Fund, and negative reserve as income. Additionally, the order includes disallowances of deductions under section 80M and interest on…...
Life Insurance Corporation of India faces GST demand of Rs 62,31,166 for FY 2019-20
5+ mon, 1+ week ago (149+ words) Business Upturn Life Insurance Corporation of India (LIC) has received a demand order from the Deputy Commissioner of State Taxes and Excise, Parwanoo, Himachal Pradesh, for Goods and Service Tax (GST), interest, and penalty amounting to ₹62,31,166 for the financial year 2019-20. The…...