The New India Assurance Company Limited
New India Assurance Company Ltd is India's largest non-life insurance company. It is promoted by the Government of India (GoI) holding ~86% stake.
What The files
- Others59
- Investor Meet27
- Important24
- Board Meeting14
- Updates9
- PPTs6
New India Assurance (#NIACL) received a penalty order from the Income Tax Department for Rs 6.86 lakh for AY 2014-15. The issue stems from alleged underreporting of income from foreign dividends. This amount will be accounted for as a contingent liability. The company plans to appeal the order before the...
New India Assurance (NIACL) has received an Income Tax penalty demand of Rs. 4.27 crore for Assessment Year 2017-18, levied under Section 270A of the Income Tax Act, 1961. This amount will be shown as a contingent liability in the company's financial statements. NIACL plans to challenge the order by...
The New India Assurance Company Ltd. (NIACL) has received a favorable order from the Income Tax Department's National Faceless Appeal Centre (NFAC), Delhi. This order deletes a previously imposed penalty of ₹2.03 Cr for Assessment Year 2019-20. This is a positive financial development for NIACL, as it directly avoids a...
New India Assurance (NIACL) has received two adverse Goods and Services Tax (GST) orders totaling ~₹179.29 Cr in confirmed demands, covering tax, interest, and penalties. **Details:** * **Order 1 (Mumbai South, FY18-23):** An initial show-cause notice for ₹2,298.07 Cr was largely dropped, with a final confirmed demand of **₹110.12 Cr**...
New India Assurance (#NIA) has received a significant tax demand related to GST. * **The Issue:** An order has been issued by an Additional Commissioner, demanding Rs 2,379.13 Cr, along with penalties. This demand is for alleged non-payment of GST on premiums received in co-insurance business (as a follower) and...