Infosys charged $225 penalty by US authority on tax violation

IT major Infosys has been penalised $225 for the alleged violation of “short payment of modified business tax” for two quarters by the US taxation authority, the company said in a stock exchange disclosure.

On January 25, the Nevada Department of Taxation sent a communication to the Bengaluru-based software services exporter for collection of penalty. The violation(s)/contravention(s) committed or alleged to be committed is “short payment of modified business tax for Q4 2021 to Q1 2022”, Infosys said in the disclosure on Monday evening.