Wipro gets Rs 816-cr tax notice

Wipro gets Rs 816-cr  tax notice

Software exporter Wipro has received tax notice of Rs 816.4 crore by tax department, the company has said in a regulatory filing.

In recent filing with the US Securities and Exchange Commission (SEC), Wipro said that, “In March 2013, the company received the draft assessment order, on similar grounds as that of earlier years, with a demand of Rs 816 crore (including interest of Rs 84.8 crore) for the financial year ended March 31, 2009.”

The company said the tax demands have come primarily on account of denial of deduction under section 10A of the Income Tax Act, 1961 in respect of profit earned by the company’s undertaking in Software Technology Park at Bangalore.

Wipro said that it will file its objections against the said demand before the Dispute Resolution Panel.

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