Infosys to get windfall tax refund of Rs 6,329 crore

Infosys, one of India's top software service providers, is poised to receive a substantial tax refund totaling Rs 6,329 crore from the income tax department. However, the company faces a notable tax liability of Rs 2,763 crore, as per recent assessment orders. These orders, under various sections of the Income Tax Act, 1961, span assessment years from 2007-08 to 2018-19. While the refund brings a positive windfall, Infosys is carefully evaluating its implications on financial statements for the quarter and year ending March 31, 2024. Additionally, the company grapples with tax liabilities, including interest, for the assessment year 2022-23, alongside a Rs 4 crore tax demand for the assessment year 2011-12.

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