Veteran IT company Infosys has received a tax demand notice of Rs 341 crore from the Income Tax Department.
After this update, investors will keep an eye on Infosys shares today. On Monday, Infosys shares closed in the red amid the rise in the stock market.
This stock is available at a rate of Rs 235.50 less than its 52 week high of Rs 1733. Its 52 week low is Rs 1185.30.
Infosys has received a notice regarding tax demand of Rs 341 crore for assessment year 2020-21.
Infosys on Monday said it is assessing the impact of the order on its financial statements for the quarter and fiscal year ending March 31, 2024. Infosys also said that it is considering filing an appeal against this order.
“Infosys Limited has received a tax demand notice for Rs 341 crore for assessment year 2020-21 from the Income Tax Department on March 31, 2024,” the company said in a filing to the stock exchange.
The company is in the process of assessing the impact of the order on its financial statements for the quarter and financial year ending March 31, 2024. “She is also considering appealing against the order.”
On Monday, Nifty IT index closed 0.41 percent higher. Of the 10 stocks involved, 3 closed in the red, including Infosys.
There was a jump of more than 3 percent in Mphasis. TCS, Wipro, HCL Tech also closed in the green, but LTIM, Tech Mahindra and Infosys closed with losses.