This country imposes Rs 8200000 penalty on Narayana Murthy’s Infosys for...

Infosys is one of the leading IT companies in India with a market cap of Rs 5.89 lakh crore. The company was co-founded by Narayana Murthy, one of the seven co-founders of Infosys. The IT giant has often been in the news for several projects and deals. But now, the company has grabbed the headlines for the wrong reason. The Canadian government has imposed a penalty of over 1.34 lakh Canadian dollars (about Rs 82 lakh) on IT company for alleged underpayment of employee health tax for the year ended December 31, 2020, a regulatory filing said.

Infosys received an order from Canada's Finance Ministry on May 9. "Penalty imposed on alleged underpayment of Employee Health Tax for the year ended December 31, 2020," the filing said. It mentioned a penalty of 1,34,822.38 Canadian dollars has been imposed on the company. Infosys said that there is no material impact on financials, operations or other activities of the company.

Earlier on Monday, Infosys announced that it has officially become a Microsoft Security Solutions Partner, showcasing our commitment to top-notch enterprise security. It will work in all 4 domains - Information Protection & Governance, Threat Protection, Cloud Security, and Identity and Access Management.

(With inputs from PTI)

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