LIC has Biggest Tax Demand of Rs 7,000 Crore in the Country - The New Indian Express

LIC has Biggest Tax Demand of Rs 7,000 Crore in the Country

Published: 31st January 2014 05:37 PM

Last Updated: 31st January 2014 06:19 PM

Life Insurance Corporation of India, the largest insurer of the country, has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.

The list of top ten pending tax demands in each category has been given by the Income Tax department to activist Subhash Agrawal in response to his RTI application seeking the list of top tax defaulters.

The tax demand raised by the department against LIC is of the assessment year 2010 which is pending "as on date", the response furnished on January 27, 2014 said.

In companies category, the top slot is given to LIC which also has biggest pending tax demand in all the other categories, according to the RTI reply.

The tax demand against LIC is Rs 7027 crore which is followed by Rs 2372 crore against Aditya Birla Telecom Limited, Rs 2038 crore against Vodafone Infrastructure Limited, Rs 1517 crore against Idea cellular and Rs 1494 crore against Bharat Petroleum Corporation Limited.

Other companies with pending tax demand in the country include Nerka Chemicals Private Limited with Rs 1354 crore, Tamil Nadu State Marketing Corporation with Rs 1234 crore, Andhra Pradesh Beverages Corporation Limited Rs 1228 crore, HDFC Bank Limited with Rs 1051 crore against and Indian Oil Corporation with Rs 874 crore, according to the reply.

In the individuals category, one Sanjay Singal leads the tally with pending tax demand of Rs 280 crore, followed by Sukesh Gupta with Rs 155 crore and former Jharkhand Chief Minister Madhu Kora with Rs 103 crore.

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