The demand notice served on various counts, including shareholders’ income taxed as income from other sources and certain marketing and advertising expense considered as inadmissible expenses and hence disallowed, ICICI Prudential Life Insurance said
Mumbai: ICICI Prudential Life Insurance on Friday said it has received a demand notice of Rs 328.41 crore for the assessment year 2023-24.
The demand notice has been sent by the Assistant Commissioner of Income-Tax, Maharashtra, ICICI Prudential Life Insurance said in a regulatory filing.
The demand notice served on various counts, including shareholders’ income taxed as income from other sources and certain marketing and advertising expense considered as inadmissible expenses and hence disallowed, it said.
The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines, it added.