SBI Life Insurance Faces Tax Penalty of 238 Million Rupees
Mumbai, March 26, 2025 (Reuters) – SBI Life Insurance Company Ltd. has received a tax penalty of 238 million rupees. This news comes as the company navigates the financial landscape.
The insurance provider also recently received an income tax order for 3.5 billion rupees.
SBI Life Insurance Company Limited is listed on the National Stock Exchange of India (NSE) under the ticker SBILIFE. Recent data indicates a 1.02% change over the last five days, a 3.80% change since the beginning of the year, and a 10.85% change since January 1, as of the market close on March 26, 2025.
Further developments regarding the company include a series of orders received from various authorities, including the Excise and Taxation Officer in Rohtak, Haryana, and the Deputy Commissioner of State Tax in multiple locations. The company also announced the appointment of Venugopal Bhaskaran Nayar as an Additional Independent Director in February.
Key Dates and Recent Events:
- March 26, 2025: Tax penalty of 238 million rupees.
- March 24, 2025: Income Tax Order of 3.5 billion rupees.
- February 28, 2025: Appointment of Venugopal Bhaskaran Nayar as an Additional Independent Director.
SBI Life Insurance Company Limited is one of India’s leading life insurance groups, offering individual and group insurance schemes, as well as retirement planning services. The company employs over 23,000 people.
