Infosys said in a stock exchange filing, “On January 25, the Nevada Department of Taxation sent a communication for the collection of penalty. The violations and contraventions committed or alleged to be committed is short payment of modified business tax for Quarter 4, 2021 to Quarter 1 of 2022.” Infosys Charged 'USD 225' Penalty by Nevada Department of Taxation for Violating Short Payment of Modified Business Tax.
Shares of IT major Infosys Ltd slumped over 4 per cent on Friday to hit 6-week low after the company posted a marginal rise in its Q2 net profit, and also revised its FY24 revenue guidance.