ImportantDisclosure of material issue
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.
The New India Assurance Company LimitedNIACL · Filed with the exchange
This amount will be accounted for as a contingent liability.
The company plans to appeal the order before the National Faceless Appeal Center (NFAC) or explore other legal options.
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