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I-T Dept slaps Rs 582 cr tax demand notice on Infosys

  •   Sun, May 19 2013 12:20:32 PM

New Delhi, May 19 (PTI): Income Tax department has slapped a fresh USD 106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India's second largest IT firm.

The Bangalore-based software services exporter is already contesting additional income tax demands of USD 214 million (about Rs 1,175 crore) for four fiscals years beginning 2005 and said it will take legal recourse against the fresh tax demand notice as well.

"The company has received the assessment order from the Income tax authorities for fiscal 2009 on May 2, 2013 along with a demand order for an amount of USD 106 million," Infosys said in a filing to the US Securities and Exchange Commission (SEC) last week.
  

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Comment on this article

  • jacintha, Mangalore

    Sun, May 19 2013

    I think IT department as well as Infosys know, detail data.
    We jumping to conclusion that it is revenge, is a little too premature.
    Income tax is keen on their salaries, so they will search mechanisms to enlarge their coffers.

    NRN is not with Infosys anymore, he is entitled to his opinion, so let us wait for clarifications from Infosys.

    DisAgree [1] Agree Reply Report Abuse

  • Valerian Dsouza, Udupi/Mumbai

    Sun, May 19 2013

    Dear commentators, INFOSYS received regular assessment order from the I.Tax authorities for fiscal 2009.
    The Demand is Not on account of any RAID!
    IT dept raids only if it has definite information of huge tax evasion!
    The demand now raised is on Infosys own submissions, definitely in the tax laws there are ambiguities, for which there are legal recourse.
    IT dept had recently raised huge demand on Telecommunication major also!
    Everything can't be linked to Politics!

    DisAgree Agree [6] Reply Report Abuse

  • Stany D'sa, Balehonnur/Dubai

    Sun, May 19 2013

    This kind of notice is nothing new.Infosys just can't evade tax and what is due to the government must be paid. We cannot just link the tax issue to any aother political dramas.

    DisAgree [16] Agree [3] Reply Report Abuse

  • C Sharath, Mangalore

    Sun, May 19 2013

    This comes within a week of Narayan Moorty Praising Modi's administrative reforms. Any guess why, another caged parrot jumps into action. If am not wrong feedback from Infy Employees and my wife who once used to work for Infy, the companies HR policy particulary regardiung the taxastion is very particular and they promote the employees to adhere to the rules and regulations regarding Tax and filing returns.

    DisAgree [2] Agree [41] Reply Report Abuse

  • Chances, ibrahim saudi/yanbu

    Sun, May 19 2013

    Must be huge money siphoned to Modi's account. Thats why they could not pay Tax. They may facing obsolute cash crunch to the party payment.

    DisAgree [34] Agree [7] Reply Report Abuse

  • jeetendra hegde, mumbai

    Sun, May 19 2013

    This is what called as revenge policy of congress,the people who admire opposition party leaders has to face IT and CBI raid.

    DisAgree [11] Agree [34] Reply Report Abuse

  • Indian, Mangalore

    Sun, May 19 2013

    I think this is because Mr. Krishnamoorthy praised Mr. Modi's developmental works. Government is giving discount to foreign company (Vodafone) but they are behind our own company.

    DisAgree [11] Agree [36] Reply Report Abuse

  • Krishna, Mangalore

    Sun, May 19 2013

    When the IT dept is going to carry out raids, question, quiz, examine the records ......of corrupt Poiticians

    DisAgree [1] Agree [28] Reply Report Abuse


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