LIC receives INR 25,464 cr income tax refund tied to policyholder bonuses, expected to improve Q4 performance.
Life Insurance Corporation of India (LIC) has reportedly received an income tax refund order of Rs 25,464 crore. This refund is connected to interim bonuses given to policyholders over the last seven years. The announcement was made by Siddhartha Mohanty, the LIC's chairman, who expects the refund to be realized within the current financial quarter. This proposed refund is anticipated to have a positive impact on LIC's Q4 performance, which is expected to bolster their bottom line.
February 11, 2024
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