Infosys Limited — Important, 01-03-2025: Updates

The company has received multiple penalty orders from the Karnataka tax authorities, totaling INR 1,82,76,657 (approximately 1.83 Cr). The penalties are for allegations of excess Input Tax Credit (ITC) claims concerning the fiscal year 2020-21. Specifically, these penalties include INR 8,16,411 for excess ITC, INR 8,63,990 for excess ITC and short tax payment on miscellaneous income, and INR 1,66,96,256 for ineligible ITC. The company reports that these penalties will not have a material financial impact on its operations or performance. This development warrants attention as it reflects ongoing scrutiny of tax practices, though the company's response suggests a stable operational outlook.