Troubles galore for Cognizant as HC upholds Rs 2,500 crore Income Tax demand

The case stems from the demand for payment of tax at the rate of 15% on the remittance of Rs 19,415 crore to its non-resident shareholders in the US and Mauritius, against buyback of 94 lakh of its equity shares in May 2016.

from The Financial ExpressThe Financial Express https://ift.tt/2ILPXwf