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About 1 results for "fy 2003 04"

ITD freezes Cognizant's bank accounts on a Rs 2,500-crore dispute
Rediff.com

ITD freezes Cognizant's bank accounts on a Rs 2,500-crore dispute

The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant. The Income Tax Department has attached bank accounts and deposits of IT services major Cognizant in Chennai and Mumbai, in excess of Rs 2,500 crore (Rs 25 billion) in connection to an alleged evasion of Dividend Distribution Tax (DDT) and other charges.   The department is planning to prosecute the company for ... Rediff.com, 3 weeks ago
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