Income Tax Department to Scrutinize Insurance Companies for Higher Commissions and Deductions

Income Tax Department

Income Tax Department The Income Tax Department is set to scrutinize multiple insurance companies for their payment of higher commissions to intermediaries and claims of higher deductions. This move comes as the Central Board of Direct Taxes (CBDT) plans to reassess the tax paid by these companies in certain years before April 1, 2023. It is estimated that demand notices worth a total of ₹25,000 crore will be issued in …

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