INFO will reverse tax provisions of ~USD225m that were made in the previous period and are no longer required. This is the P&L impact and will be seen in3QFY18 earnings, driving EPS higher by INR6.7 (10.4% on FY18E base). INFO is expected to pay out USD233m due to the differences in payable taxes for the prior period and actual taxes paid. This is the cash flow impact that will play out over the next few quarters (exact period not specified). INFO's overall effective tax rate is expected to decline by 100bp up till FY21 as a consequence of the agreement. This drives a marginal upgrade of 1.4% to our future earnings estimates