Infosys investors selling shares may have to shell out 4-5 times higher tax

After the IT giant declared a bonus, investors selling shares may have to shell out 4-5 times more

Investors offloading shares of Infosys following allotment of bonus shares will have to pay four to five times higher tax than what they would have if they had sold the shares before the record date.

At its meeting held on July 13, Infosys’ board had recommended a bonus issue of one equity share for every equity share held (1:1) on the record date of September 5. The issue of bonus shares was to celebrate the 25th year of the company’s public listing in India and to improve liquidity. The record date is the cut-off date to determine which shareholders are