Debasis Mohapatra
Bengaluru, 28 Feb 2026
State-owned general insurer, New India Assurance Company Ltd on Friday said it has received a favourable order from the National Faceless Appeal Centre (NFAC), Delhi, under the Income Tax Department.
Under this order, income tax demand on the company worth Rs 672.36 crore for Assessment Year 2022-23 has been deleted.
In September last year, New India Assurance Company said it had received a tax demand of Rs 2,379.13 crore, including penalties, for alleged non-payment of tax on coinsurance premiums and reinsurance commissions.
