Income Tax department slaps another tax demand notice of Rs 582 crore on Infosys

20 May 2013

Increasing the tax woes of India’s second largest IT firm, Infosys, the Income Tax department has slapped another tax demand notice of Rs 582 crore for 2009-10 assessment year. The Bangalore-based software services exporter is already contesting additional Income Tax demands of about Rs 1,175 crore for four fiscal years beginning 2005, mainly on account of disallowance of a portion of the deduction claimed by the company under Section 10A of the Income Tax Act.

Further, the company is in process of seeking legal recourse against the fresh tax demand notice.

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