ICICI Lombard Gets ₹ 8.15 Million Tax Demand Order, Plans Legal Challenge

ICICI Lombard General Insurance Co. Ltd. has received a tax demand order totalling ₹8.15 million from the Additional Commissioner of State Tax (Appeal), Ranchi Division, the company said in a filing on Sunday.

The demand includes ₹2.78 million in tax, ₹2.59 million in interest, and an equal amount in penalty. The company said it is evaluating legal options, including the possibility of filing a further appeal.

The order follows a July 2023 notice from the Joint Commissioner of State Tax, Ranchi, for the July 2017– March 2018 period, against which ICICI Lombard had already filed an appeal.