Infosys, the IT giant, has been fined $225 by the Nevada Department of Taxation for purportedly underpaying modified business taxes in the State. This penalty, spanning from Q4 2021 to Q1 2022, follows previous fines in Florida ($76.92) and Massachusetts ($1,101.96). Additionally, Indian tax authorities have demanded Rs 26.5 lakh for non-payment of IGST.
Infosys confirmed the receipt of the penalty notice from Nevada authorities and is currently investigating the claim. The company assures that this issue is unlikely to impact its financials or operations significantly.
This isn’t the first time Infosys has faced tax-related penalties in the US. Earlier fines include underpayment penalties in Florida and Massachusetts. In Bharat, the company has received a hefty demand notice for non-payment of IGST, along with additional penalties and interest charges, reflecting a significant financial challenge.
