Daijiworld Media Network- New Delhi

New Delhi, Mar 21: The Income Tax (I-T) department has issued a notice amounting to Rs 124 cr to a leading insurance company over alleged tax discrepancies, sources said.

According to officials, the notice pertains to discrepancies in financial statements and tax filings, prompting the department to seek clarifications from the insurer. While the company’s name has not been officially disclosed, reports indicate that the action is part of a broader crackdown on financial irregularities in the sector.

The insurance firm is expected to respond to the notice within the stipulated time frame. Meanwhile, industry experts suggest that this move underscores the government’s intensified scrutiny on tax compliance across corporate entities.

Further investigations are underway, and officials have hinted at the possibility of additional assessments if irregularities persist. The company, on its part, has assured full cooperation with the authorities.