Cognizant's bank a/cs frozen on â¹2,500cr tax evasion: Report
The Income Tax Department has frozen some bank accounts of Cognizant Technology Solutions India over alleged tax evasion amounting to â¹2,500 crore in 2016-17, according to a report. It owes this as Dividend Distribution Tax (DDT), which is levied at about 20% of the total dividend paid by the company. However, Cognizant said that its business operations aren't impacted.