The Centre has served show-cause notices to eight insurance companies so far this fiscal for alleged tax evasion, Rajya Sabha was informed on Thursday.
The eight insurers are Bharat Reinsurance, IFFCO Tokio General Insurance Services, Apollo DKV Insurance Co Ltd, DLF Pramerica Life Insurance, AVIVA Life Insurance, Sri Ram Life Insurance, Sahara India Life Insurance and Reliance Life Insurance.
Of the eight companies, four have submitted their reply to Government, S. S. Palanimanickam, Minister of State for Finance said in a written reply to a Rajya Sabha question.
The four companies that have replied are: Bharat Reinsurance, IFFCO Tokio General Insurance Services, DLF Pramerica Life Insurance and Reliance Life Insurance.
The reply, however, does not specify which kind of tax these eight companies had allegedly evaded
In cases where the companies have submitted the reply, a personal hearing will be held and adjudication orders passed. Where the reply is yet to be submitted, personal hearings will be conducted after receipt of the replies of the companies, Palanimanickam said.