LIC receives tax refund of Rs 21,740 cr from IT Dept

Mumbai: The Life Insurance Corporation of India (LIC) on Friday said that it had received a tax refund amounting to Rs 21,740.77 crore from the Income Tax Department for the assessment years spanning from 2013 to 2020.

Here's Why You Should Estimate Your Income Tax Liability for The A.Y. 2018-19

Who wants to pay the taxman? Although the tax money will lead to better social and public-sector facilities, no one wants to pay an additional penny towards the tax. Going by the logic that the government taxes our income to direct funds for infrastructure development of the country, we should ideally pay tax.   Therefore, we discuss in detail the income tax liability of every salaried individual.