Company: INFY
Filing Date: 2025-11-10
Form Type: SC TO-C
Source: 0001193125-25-274597
Chunk: 5

Company: Infosys Ltd
Filing Date: 2025-11-10
Form: SC TO-C
Chunk 5
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 9, 2016, SEBI circular SEBI/HO/CFD/DCR-III/CIR/P/615 dated August 13, 2021 and SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/35                                                    
 dated March 8, 2023, and such other circulars or notifications, as may be applicable, including any amendments thereof as amended (“SEBI Circulars”)                                                               |

| Income-tax Act, 1961 read with any applicable rules framed thereunder (“ITA”). The Company is required to deduct tax at source at                                                                                                                       
 standard prescribed rate of 10% under Section 194 of the ITA in respect of the consideration payable to resident shareholders on buyback of the shares. Resident shareholders may also submit any other document under any provisions of the ITA to     
 claim a lower / nil withholding of tax. Resident shareholders may also provide a Lower Tax Deduction Certificate (“LTDC”) certificate issued by the Income Tax Department under Section 197 or any other section of the ITA,                            
 which authorizes company to deduct TDS at a lower rate instead of the standard prescribed rate under the ITA. In respect of consideration payable to non-resident shareholders, tax shall be withheld at the                                            
 standard prescribed rate of 20% (plus applicable surcharge and cess) as per the ITA. Shareholders may also provide a LTDC certificate issued by the Income Tax Department under Section 195 or any other section of the ITA, which authorizes           
 company to deduct tax at source (“TDS”) at a lower rate instead of the standard prescribed rate under the ITA. However, as per Section 90 of the ITA, non-resident shareholders can avail the                                                           
 provisions of the certain Double Tax Avoidance Agreement (“DTAA”) provided they satisfy conditions such as non-applicability of the General Anti-Avoidance Rule (“GAAR”), read with                                                                     
 Multilateral Instrument (“MLI”), between India and the country of tax residence of the shareholders, if such DTAA has beneficial provisions with respect to buyback consideration which are considered payable as dividend and shareholders             
 fulfilled all requirements of DTAA. For this purpose, i.e., to avail the benefits under the DTAA read with MLI, non-resident shareholders will have to provide the requisite documents to the Company on or                                             
 before the close of the Tendering Period (as defined below). Since the Buyback shall take place through the settlement mechanism of