Infosys will get demand discover of ₹341 crore from revenue tax division

Table of Contents

what is DMA (Direct Market Access)in the Indian share market?

What is DMA?

DMA, or Direct Market Access, is a service offered by stockbrokers that allows traders to place orders directly on the stock exchange’s order book. It eliminates the need for intermediaries, such as market makers or brokers, and provides traders with direct access to the market. This means that orders are executed faster and at potentially better prices.

How Does DMA Work in the Indian Share Market?

In the Indian share market, DMA is facilitated through the use of technology and trading platforms provided by stockbrokers. Traders can access the market through these platforms, which connect them directly to the stock exchange.

Benefits of DMA in the Indian Share Market

1. Speed and Efficiency: DMA enables faster order execution as orders are placed directly on the exchange’s order book. This can be particularly advantageous in volatile market conditions where every second counts.

Conclusion

DMA, or Direct Market Access, is a powerful tool that allows traders to directly access the stock exchange’s order book. In the Indian share market, DMA offers numerous benefits, including speed, transparency, control, lower costs, and access to real-time market data. By utilizing DMA, traders can enhance their trading experience and potentially improve their trading outcomes.

IT large Infosys stated on Monday that it had been issued a tax demand of ₹341 crore by the Earnings Tax division for the evaluation 12 months 2020-21.

“Infosys Ltd on March 31, 2024, obtained order underneath Part 201 & 201(A) of the Earnings Tax Act, 1961 from the Earnings Tax Division, Authorities of India for evaluation 12 months 20-21 with a tax demand of ₹341 crores (together with curiosity),” the corporate stated in an trade submitting.

Additionally learn: Infosys to obtain windfall tax refund of ₹6,329 crore from revenue tax division

The corporate is at the moment assessing the ramifications of this directive on its monetary statements for the quarter and monetary 12 months ending on March 31.

“The Firm is within the means of evaluating the implications of this order on the monetary statements for the quarter and 12 months ending March 31, 2024, and likewise evaluating submitting attraction in opposition to this order,” it additional added.

These directives align with varied sections of the Earnings Tax Act of 1961.

Moreover, a department of the IT firm has been instructed by tax authorities to refund ₹15 crore for the 2014-15 evaluation 12 months. “Additional, a subsidiary of the Firm has obtained refund order underneath Part 154 of the Earnings Tax Act, 1961 from the Earnings Tax Division, Authorities of India for evaluation 12 months 14-15. The refund quantity as per the order is INR 15 crores. The Firm is within the means of evaluating the implications of this order on the monetary statements for the quarter and 12 months ending March 31, 2024,” it stated.

In the meantime, the IT agency is poised to obtain a tax refund of ₹6,329 crore together with a tax legal responsibility of ₹2,763 crore, as per evaluation orders. These refunds, inclusive of curiosity, relate to evaluation years starting from 2007-08 to 2018-19.

Additionally learn: Zomato will get GST demand order of ₹23.26 crore for FY 2018-19

The corporate additional stated the directives are in accordance with completely different provisions outlined within the Earnings Tax Act of 1961. These refunds, which embrace accrued curiosity, relate to evaluation years starting from 2007-08 to 2018-19.

“The corporate is within the means of evaluating the implications of those orders on the monetary statements for the quarter and 12 months ending March 31, 2024,” the corporate stated in a launch to the exchanges.

Nevertheless, the tax legal responsibility for the evaluation 12 months 2022-23, inclusive of curiosity, contrasts with Infosys’ earlier tax demand for the evaluation 12 months 2011-12, totaling ₹4 crore, together with curiosity.

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