Thursday , March 22, 2018 |   23:10:12 IST
About Us Contact Us Instant Updates Newsletters
TP - TPO should not exclude items booked as mixed, while working out gross margins of assessee on sale of goods imported from AEs as well as from unrelated parties: ITAT (See 'Breaking News') TP - Two seperate international transactions cannot be aggregated for purposes of benchmarking, in absence of their having any close connection or live link with each other: ITAT (See 'Breaking News') I-T - Payment made for acquiring management rights of drillship for period of five years, for purpose of exploration of mineral oil, is liable to be treated as capital expenditure: ITAT (See 'Breaking News') EU digital economy taxation proposal (See 'Edit') Cabinet okays opening of 18 new Missions in Africa (See 'BRIEF') Cabinet okays closure of India Development Foundation of Overseas Indians (See 'BRIEF') Cabinet approves revision India-Qatar DTAA (See 'BRIEF') GST - Data Analytics turning out to be most potent anti-evasion tool! (See THE COB(WEB)' in TIOL) Union Cabinet okays amendment in India-Qatar DTAA TP - Debatable question of fact as to validity of 'levy of penalty' in case of ALP determination, needs no writ interference: HC (See 'Breaking News') I-T - Receipts of overseas entity from providing data transmission services, does fall within scope of royalty u/s 9(1): HC (See 'Breaking News') TP - No company engaged in BPO services having low expenditure on employment cost, can be considered as good functional comparable for high end KPO service provider: ITAT (See 'Breaking News) TP - TPO is well within its right in selection of comparables from public domain, in case of failure of assessee to submit its ALP documentation: ITAT (See 'Breaking News) TP - Assessment order passed in name of non existent entity pursuent to scheme of amalgamation, is invalid: ITAT (See 'Breaking News)
Home >> News Brief

Infosys tax pact with US IRS to hike per share earning
By TII News Service
Jan 10, 2018 , Bangaluru


IN a bid to reduce its tax burden in the USA, the homegrown IT service provider, Infosys Ltd. has signed an Advance Pricing Agreement (APA) with the US Internal Revenue Service (IRS) on Tuesday. According to a release by the company, this agreement will result in the reversal of provisions of tax to the tune of USD 225 million in the quarter ended December 31, 2017.

Under the APA, Infosys and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company's US operations. The reversal of the tax provisions will have a positive impact on its consolidated basic 'Earnings per Share (EPS)' for the December, 2017 quarter. The preliminary discussions with the IRS on the APA were initiated by Infosys in 2015, followed by multiple rounds of discussions.

gmail login
  • DTAAs
  • TIEAs
  • Circulars (I-T Act, 1922)
  • Circulars
  • Instructions
  • DRP Panel
  • Administrative Orders
  • Notifications
  • I-T Act, 1961
  • Relevant Portion of I-T Rules,1962
  • Relevant Portion of I-T Act,1922
  • GAAR
  • Equalisation Levy
  • Draft Guidelines
  • Committee Reports
  • Intl-Taxation
  • Finance Acts
  • Manual on EoI
  • DTC Bill
  • UN Model
  • Miscellaneous
  • Guidance Notes - AEOI
  • OECD Conventions
  • Cost Inflation Index
  • Union Budget
  • Information Security Guidelines
  • Circulars
  • Instructions
  • Notifications
  • Relevant Sections of Act
  • TP Rules
  • Forms
  • Miscellaneous
  • APA Annual Report
  • APA Rules
  • UN Manual on TP
  • Safe Harbour Rules
  • US Transfer Pricing
  • FEMA Act
  • Exchange Manual
  • Fema Notifications
  • Master Circulars
  • Press Notes
  • Rules
  • RBI Circulars
  • FDI Circulars
  • Reports
  • FDI Approved
  • RBI Other Notifications
  • FIPB Review
  • Black Money Act
  • PMLA Notification
  • PMLA Instruction
  • PMLA Bill
  • FM Budget Speeches
  • SEBI
  • Multimodal Transportation
  • Vienna Convention
  • NBFC Reports
  • EXIM Bank LoC
  • Manufacturing Policy
  • FTDR Act, 1992
  • Intellectual Property
  • White Paper on Black Money
  • Posting Policy
  • PMLA Cases
  • Transfer of Property
  • CBR Act, 1963
  • MCA Circular
  • Book Review
  • Limitation Act
  • SSAs
  • EPFO
  • FAQs
  • Acts
  • Rules
  • Guidelines
  • Tourist Visa
  • Notifcations
  • Types of Visa
  • Agreements
  • Arbitration
  • Model Text
  • Relevant Portion of I-T Act
  • Circulars
  • I-T Rules, 1962
  • MISC
  • Notifications
  • Subscribe
  • About Us
  • Contact Us
    A Taxindiaonline Website. Copyright © 2016 Pvt.Ltd. All rights reserved. | Powered by 4th Dimension