Indian IT firms paid $22 billion tax in US

Washington, Sep 22: Indian software companies have paid a whopping $ 22 billion tax in US between 2011 and 2015, said a report released by Nasscom. Nasscom represents India's IT and ITES companies. According to the report, Indian software companies invested $ 2 billion and provided employment to 4,10,000 personnel. Union Minister Nirmala Sitharaman released the report yesterday in Delhi on the sidelines of US-India Strategic and Commercial Dialogue. The reports is intended to dispel the rumours that India is bleeding US-white collar jobs and distressing its tech economy. India's IT firms provide services to 90 % of the fortune 500 companies and thousands of other companies in US.