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Income Tax Department freezes bank accounts of Cognizant

Income Tax Department freezes bank accounts of Cognizant

Tuesday, March 27, 2018, 8:31 PM

In the context of Cognizant under the scanner of the IT Department for allegedly evading dividend distribution tax, the IT Department has frozen some bank accounts and deposits held by software exporter Cognizant Technology Solutions, confirmed a highly-placed official with the IT-Department. The move came after the department had sent tax-evasion notice to the tune of Rs 2,500-crore by the India unit of Cognizant.
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