Canada imposes Rs 82 lakh penalty on Infosys for underpayment of tax.
The Canadian government has imposed a fine of roughly Rs 82 lakh on IT behemoth Infosys for purportedly falling short of meeting its entire employee health tax obligation for the fiscal year ending December 31, 2020.
The Canadian government has levied a fine of approximately Rs 82 lakh on the IT giant Infosys for purportedly failing to meet its full employee health tax obligations for the fiscal year ending December 31, 2020. According to recent regulatory documentation, this fine amounts to over 134,000 Canadian dollars. Infosys revealed in its filing that it was notified of the penalty by Canada's Finance Ministry on May 9. The filing specifies the precise penalty amount as 134,822.38 Canadian dollars. Infosys assured that this penalty would not significantly affect its finances, operations, or other commitments.
Earlier, in January, Infosys encountered a penalty of $225 from the US taxation authority for allegedly underpaying the "modified business tax" for two quarters. "Short payment" denotes making a payment that is less than the invoiced amount.
In August of the previous year, the Florida Department of Revenue imposed a comparable penalty of $76.92 on Infosys for its shortfall in tax payment. Subsequently, in October, the Commonwealth of Massachusetts levied another fine of $1,101.96 on Infosys for rejecting family and medical paid leave returns for the first and second quarters of 2023.
In September, India's commercial taxes department, specifically the assistant commissioner of the Kelambakkam assessment circle in Chennai, issued a demand notice of Rs 26.5 lakh for integrated goods and services tax (IGST), along with penalty and interest charges.
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