The Life Insurance Corporation of India (LIC) has received a tax refund totalling ₹21,740.77 crore from the Income Tax Department. LIC informed it had received refund orders for Assessment Years 2012-13, 2013-14, 2014-15, 2016-17, 2017-18, 2018-19 and 2019-20 and the total refund amount was ₹25,464.46 crore. The LIC is pursuing for the balance with the Income Tax Department.