Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: ACCOUNTING STANDARDS :: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: due date for vat payment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: form 3cd
 
 
News Headlines »
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31
 Tax numbers belie slowdown: FM
 Income tax (1st Amendment) Rules, 2017
 Anti-avoidance tax rule to kick in from April 2017

Tax management, the Infosys way
August, 14th 2006
Infosys TEchnologies paid less tax for the year ended March 2006 - Rs 303 crore in absolute terms - compared to the previous year (Rs 325 crore) even though its revenues have been growing. Infosys reported revenues of Rs 9,028 crore for the 2005-06 fiscal and Rs 6,860 crore and Rs 4,760 crore in 2004-05 and 2003-04 respectively. Commenting on this, Mr V. Balakrishnan, Chief Financial Officer, said: "The decrease in the effective tax rate needs to be normalised." One of the reasons for the reduction in absolute tax, he said, was a writeback of Rs 20 crore in the second quarter of 2005-06. The company's annual report said that based on assessment by tax authorities, the company re-estimated its tax liabilities and wrote back this amount. Infosys also had a negative non-operating income on foreign exchange differences that impacted taxes. He added that the fringe benefit tax (FBT) of Rs 16 crore was not included in the profit and loss account. Aside from this, for every rupee earned in revenues, Infosys paid about 11 paise in tax this year - less than 14.8 paise and 15.4 paise paid in 2004-05 and 2005-06 respectively. "The effective tax rate would have to be around 13 per cent," he added. On whether the drop in tax was also due to some of Infosys's facilities coming under the Software Technology Parks of India's (STPI) tax-free scheme, he said: "No. Some of our units, contributing to less than 10 per cent of revenues, have come out of the tax holiday scheme for which we pay taxes."
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions