Infosys Faces Over Rs 3 Crore Tax Penalty Amid Alleged Discrepancies
Infosys has said that it has received a penalty notice of over Rs 3 crores from the Deputy Commissioner of Commercial Taxes in Bengaluru. The penalty pertains to alleged discrepancies in tax payments and the excessive use of Input Tax Credit for the financial year 2019-20.
In a statement released on Saturday, Infosys stated that this penalty will not materially impact its financials, operations, or other activities. The company assured stakeholders that the penalty does not significantly affect its overall performance or operations. Additionally, Infosys indicated that this information will be available on its official website.
This development comes after a broader investigation by the Directorate General of Goods and Services Tax Intelligence into allegations of Integrated Goods and Services Tax evasion by Infosys.
