ICICI Prudential Life Insurance hit with Rs 9.84 billion tax demand

ICICI Prudential Life Insurance faces a significant tax demand of Rs 9.84 billion. An appellate order upheld the tax, penalty, and interest. This demand relates to input tax credit reversal from July 2017 to July 2022. The company stated there is no immediate impact. ICICI Prudential Life plans to file a further appeal.