Infosys Settles Tax Fraud Charges In US, Shares Rise Over 1%

Infosys shares rose more than 1 per cent on Wednesday after the IT major agreed to pay $800,000 (nearly Rs 5.6 crore) to settle allegations of misclassification of foreign workers and tax fraud in the US. In a statement early on Wednesday, Bengaluru-based Infosys said its agreement concludes investigation by the California Attorney General into allegations related to the payment of state payroll taxes for some employees traveling on ...