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Life Insurance coverage Company of India (LIC) on Friday introduced a tax refund price Rs 21,740.77 crore from the Revenue Tax Division for the evaluation years from 2013 to 2020. In a regulatory submitting, LIC mentioned: “Life Insurance coverage Company of India had obtained refund orders for Evaluation Years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19, and 2019-20. The overall quantity of refund was Rs 25,464.46 crore.”
Of this, the Revenue Tax Division has launched Rs 21,740.77 crore for now. It added that it’s pursuing the stability with the Revenue Tax Division.
Earlier, LIC chairman Siddhartha Mohanty talked about about getting this quantity. Final month, the Revenue Tax Appellate Tribunal (ITAT), Revenue Tax Division, issued intimation for a refund of Rs 25,464.46 crore. The refund is said to interim bonuses to policyholders prior to now seven evaluation years.
Earlier this month, the state-owned insurer reported a 49 per cent leap in internet revenue to Rs 9,444 crore within the December 2023 quarter towards Rs 6,334 crore within the year-ago interval. Its internet premium earnings improved to Rs 1,17,017 crore within the third quarter of the present fiscal from Rs 1,11,788 crore in the identical interval a 12 months in the past.
LIC’s complete earnings additionally rose to Rs 2,12,447 crore within the newest December quarter in comparison with Rs 1,96,891 crore within the year-ago interval. The LIC board has accredited an interim dividend of Rs 4 per fairness share of face worth of Rs 10 every for FY24.
LIC shares closed at Rs 1039.4, down by 1.52%, on Friday from yesterday’s Rs 1,055.4. The 52-week low worth of Life Insurance coverage Company of India inventory was Rs 530.05, whereas the 52-week excessive worth was Rs 1,175.
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