Company: INFY
Filing Date: 2025-07-01
Form Type: 20-F
Source: 0000950170-25-091925
Chunk: 270

Company: Infosys Ltd
Filing Date: 2025-07-01
Form: 20-F
Item: Item 18
Chunk 270
---
 instruments and measured at fair value through other comprehensive income (FVOCI).

Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate in effect at the balance sheet date.

Government grants

The Group recognizes government grants only when there is reasonable assurance that the conditions attached to them will be complied with, and the grants will be received. Government grants related to assets are treated as deferred income and are recognized in the net profit in the statement of comprehensive income on a systematic and rational basis over the useful life of the asset. Government grants related to revenue are recognized on a systematic basis in the statement of comprehensive income over the periods necessary to match them with the related costs which they are intended to compensate.

Other income consists of the following:

(Dollars in millions)                                                                                                                         
                                                                                                                      Year ended March 31,    
                                                                                     2025                2024                         2023    
Interest income on financial assets carried at amortized cost                                 180                 128                  107    
Interest income on financial assets fair valued through other comprehensive income            124                 122                  119    
Gain / (loss) on investments carried at fair value through profit or loss                      34                  34                   18    
Interest income on income tax refund (1)                                                       41                 237                    –    
Exchange gains / (losses) on forward and options contracts                                    (24    )             12                  (80   )
Exchange gains / (losses) on translation of other assets and liabilities                       55                  11                  131    
Others                                                                                         15                  24                   40    
                                                                                              425                 568                  335    

(1)During the year ending March 31, 2025, the Company received orders under section 250 of the Income Tax Act, 1961, from the Income Tax Authorities in India for the assessment years, 2016-17 and 2019-20. These orders confirmed the Company's position with respect to tax treatment of certain contentious matters. As a result interest, income (pre-tax) of $38 million along with corresponding tax impact was recognized.

(1) During the year ending March 31, 2024, the Company received orders under section 250 and 254 of the Income Tax Act, 1961, from the Income Tax Authorities in India for the assessment years, 2007-08 to 2015-16, 2017-