Infosys gains on launching Central Processing Center for TDS for I-T department

IT bellwether unveiled a central processing centre at Ghaziabad in Uttar Pradesh to enable the income tax department to efficiently administer TDS.

Infosys is trading higher by 3% to Rs 2,911, after IT bellwether unveiled a central processing centre at Ghaziabad in Uttar Pradesh to enable the income tax department to efficiently administer tax deduction at source (TDS).

 

“The launch of the new central processing centre will play a key role in increasing the efficiency of tax filing for entities and processing of TDS for the income tax department,” said C N Raghupati, head – India business.

 

The stock opened at Rs 2,870 and hit a high of Rs 2,914 on the NSE. A combined 549,362 shares have changed hands on the counter so far on NSE and BSE.