The notice was sent on Tuesday under the Prohibition of Benami Property Transactions Act, 1988 Tuesday and officials said that the investigation depicts discrepancy in payment.
The other notice is under section 142(1) of the Income Tax Act, 1961.
This is part of the income tax department’s wider investigation against insurance companies and insurance intermediaries.
The department has pegged tax evasion under the tune of Rs 30,000 crore and have already sent notices to several companies under the Benami Transactions (Prohibition) Amendment Act, 2016, ET has learnt.
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The company has confirmed to receiving notice and a detailed response will follow.
