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    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
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Infosys : Over 3 crore Taxpayers Successfully Complete Transactions. 1.5 crore Income Tax Returns Filed

09/23/2021 | 02:22am EDT
Over 3 crore Taxpayers Successfully Complete Transactions. 1.5 crore Income Tax Returns Filed

Infosys is committed to making rapid progress in further streamlining end-user experience

Bengaluru, India - September 23, 2021

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today shared further updates on the progress it is making on the Income Tax E-Filing Portal.

Over the last few weeks, the portal has seen steady increase in usage with taxpayers' concerns being progressively addressed. Thus far, over 3 crore taxpayers have logged into the portal and successfully completed various transactions. Even as the portal makes sustained progress with crores of taxpayers successfully performing transactions, the Company acknowledges the difficulties some users continue to experience and is working expeditiously, in collaboration with the Income Tax Department, to further streamline end-user experience.

During the month of September, on average, more than 15 lakh unique taxpayers have logged into the portal, daily, and over 1.5 crore returns have been filed till date. Over 85 percent of taxpayers who have filed their returns have also completed their e-verification, largely through Aadhaar OTP authentication. The portal is facilitating over 2.5 lakh returns filing on a daily basis and ITR 1, 2, 3, 4, 5, and 7 are now available for filing. A majority of the statutory forms have also been made available online. Several critical statutory forms like 15G, 15H, EQ1, 10A, 10E, 10IE, DTVSV, 15CA, 15CB, 35 as well as TDS Returns are being filed in large numbers. More than 11.5 lakh statutory forms and over 8 lakh TDS returns have already been filed. Taxpayer services such as e-proceedings, response to notices and demands, e-PAN services, DSC registrations, and functionality for legal heir, have also been enabled. Over 16.6 lakh e-PANs have been allocated. 4.3 lakh DSC registrations and over 3.44 lakh e-proceeding responses to notices have also been completed.

Even as it makes steady progress, Infosys recognizes the ongoing challenges faced by some users and has engaged with more than 1200 taxpayers directly to better understand their concerns. The Company is focused on rapidly resolving these challenges while working closely with the Chartered Accountant community to ensure that a comprehensive set of user scenarios are supported and thoroughly tested before deployment. Infosys remains committed to making rapid progress and has currently dedicated more than 750 resources to this project to complete significant portions of work, in collaboration with officials from the Income Tax Department. Infosys takes pride in partnering with the Government of India and continues to work closely with various departments to accelerate the digital evolution of the country's technology capabilities.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

Media contacts:

For more information contact: Rishi Basu

Disclaimer

Infosys Limited published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 06:21:01 UTC.


© Publicnow 2021
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Sales 2022 1 196 B 15 993 M 15 993 M
Net income 2022 223 B 2 979 M 2 979 M
Net cash 2022 293 B 3 916 M 3 916 M
P/E ratio 2022 34,1x
Yield 2022 1,86%
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EV / Sales 2022 6,07x
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Mohit Joshi Co-President
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Nilanjan Roy Chief Financial Officer
Nandan M. Nilekani Non-Executive Chairman
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