I-T dept slaps Rs 582 cr tax demand notice on Infosys
May 19, 2013  11:43

Income Tax department has slapped a fresh $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 $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 $106 million," Infosys said in a filing to the US Securities and Exchange Commission last week.         

 

In the filing Infosys added, "As the company is contesting this position like earlier years, the appellate authority would be approached within the time limit prescribed under the relevant law."         

 

Infosys is already facing tax demands worth $214 million for fiscal 2005 to fiscal 2008 "mainly on account of disallowance of a portion of the deduction claimed by the company under Section 10A of the Income Tax Act."

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