Breaking news:
After Rahul Gandhi, CJP Founder Abhijeet Dipke Demands Amit Shah's Resignation | Stray Dogs Carry Human Head to Cricket Ground, Probe Links It to Railway Accident | Heavy rain to lash Gujarat as monsoon remains active across India on Friday
Logo

Canada Imposes Rs 82 Lakh Fine on Infosys for Alleged Tax Underpayment

The Canadian government has fined Infosys approximately Rs 82 lakh for alleged underpayment of taxes, according to recent regulatory filings 

15-05-2024
image
   

The Canadian government has levied a fine of approximately Rs 82 lakh on IT giant Infosys for purportedly failing to pay the complete employee health tax required for the year ending December 31, 2020.

According to a recent regulatory filing, this penalty amounts to over 1.34 lakh Canadian dollars.

The regulatory filing stated, "Penalty imposed on alleged underpayment of Employee Health Tax for the year ended December 31, 2020."

Infosys confirmed that it received a notification from Canada's Finance Ministry on May 9 regarding the penalty.

The penalty specifically pertains to the alleged underpayment of Employee Health Tax for the mentioned period, as outlined in the filing. The exact penalty amount specified in the filing is 1,34,822.38 Canadian dollars.

Infosys mentioned that it does not foresee any significant impact on its financials, operations, or other activities due to the fine.

Image

Patanjali Enters Insurance Business as IRDAI Clears Magma General Insurance A

Patanjali Ayurved has received regulatory approval to acquire a controlling stake in Magma General I

Read More
Image

J&J Agrees to $5.5 Billion Talc Settlement in Landmark Ovarian Cancer Lawsuit

Johnson & Johnson has reached a proposed settlement covering around 76,000 talc-related ovarian canc

Read More
Image

HDFC Bank Penalises Top Executives After Review Finds ‘Business Overreachâ€

HDFC Bank has issued warning letters and imposed ₹1 lakh penalties on its MD and CEO, CFO and Reta

Read More