Breaking news:
LinkedIn Mirrors Microsoft, Cuts 281 Jobs Mostly Among Software Engineers | Google Unveils App Allowing Offline AI Model Use on Smartphones | High Court Denies Lalu Yadav's Request to Pause Land-for-Jobs Scam Trial
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

Ambani 2.0: Green Energy and National Defense Fuel Anil’s Resurgence

From financial collapse to a debt-free revival, Anil Ambani is staging a steady comeback in green en

Read More
Image

Satya Nadella Breaks Silence on Microsoft Layoffs, Calls Them a Strategic Rea

Microsoft CEO Satya Nadella has clarified that the recent job cuts are part of a forward-looking AI

Read More
Image

India Overtakes Japan to Become World’s Fourth-Largest Economy: NITI Aayog

India has climbed to the fourth spot in the global economic rankings with a $4 trillion GDP, surpass

Read More