Page 28 - Tcs

TCS levy: Credit card users may have to declare forex transactions to banks

The I-T department is in talks with the RBI and other stakeholders to firm up a mechanism for distinguishing whether the expense is towards medical/education which attract a 5 per cent TCS

Expedia to stop 'pay now' option for foreign bookings on TAAP India site

The online travel booking company said that it will do so 'given the complexity of complying to the changes' to the TCS rules which will come into effect on July 1

An inflexion point

IT industry can change fundamentally

New TCS norms on credit card spends: More than a matter of exchange

Money changers are miffed at the tax exemption for credit card forex spends of up to Rs 7 lakh a year under the liberalised remittance scheme

Uncertain economy, rapid tech change bring mega-deals under fire

Recently, TCS saw its mega deal with Transamerica come to an end

This is the right time for trade between India and US: TCS' Muthuswami

With India's growth story attracting a large number of US companies, especially in the technology sector, this is the right time for the bilateral trade to grow exponentially as both nations are witnessing a better business-friendly environment, Suresh Muthuswami, the official overseeing TCS' operations in North America has said. I have not seen a better business-friendly climate from both governments and there is an increasing interest from US companies to deal with India, especially in areas of technology, Muthuswami, Chairman of North America for Tata Consultancy Services (TCS), told PTI in an interview. India's bilateral trade with the US has been on the rise since 2000, but from 2020 to 2022, it has grown from USD 120 billion to USD 191 billion. I think we're just scratching the surface. (There is) enormous interest from the US government. India is a growing economy and (there is) a lot of interest to do business with India. So, the time is right for trade between the two ...

TCS, Transamerica end $2 billion contract due to macro environment

The 10-year contract, signed in early 2018, involved TCS working with U.S.-based Transameria to enable the digitization of more than 10 million policies into a single integrated platform

Tech employees most satisfied with their jobs, least likely to switch

This may be associated with their compensation and other benefits that the technology sector offers

Cloud remains long-term investment priority for 70% corporations: TCS study

75% respondents say they invested in AI, machine learning capabilities in the past two years

Attrition of women in IT sector doubled compared to men since December

Data suggest that most women are switching to jobs closer to home or even taking on gig/freelancing jobs that offer more flexibility

As work-from-office resumes, TCS employees get less time to upgrade skills

Average learning hours fell from 121 in Financial Year 2021-22 (FY22) to 82 in FY23, according to TCS' annual report

Stocks to Watch today, June 15: Axis Bank, Infy, TCS, IOC, realty, Zee, REC

Stocks to watch on June 15, 2023: Shares of IT companies are likely to be in focus on Thursday after JP Morgan reiterated its negative stance and downgraded the sector to underweight.

Medical assistance may be exempted from new tax collection at source rates

An additional expenses on education might also be kept out from new rule; a detailed clarification expected to be issued this month

Rupay forex card out soon: Should you pick one over a credit/ debit card?

When you are travelling abroad you have broadly three easy options for making transactions - Prepaid cards, Debit Cards and Credit Cards.

Mcap of 6 most-valued firms fall by Rs 83,637.96 cr; TCS biggest laggard

Six of the top 10 most-valued firms suffered a combined erosion of Rs 83,637.96 crore in market valuation last week, with Tata Consultancy Services (TCS), Hindustan Unilever and Infosys taking the biggest hit, amid an overall tepid trend in equities. Last week, the BSE benchmark climbed 78.52 points or 0.12 per cent, while the Nifty gained 29.3 points or 0.15 per cent. The market valuation of TCS tumbled Rs 35,694.04 crore to Rs 11,74,720.15 crore, the most among the top 10 firms. Hindustan Unilever's valuation eroded by Rs 18,949.45 crore to Rs 6,19,281.77 crore and that of Infosys fell by Rs 13,549.34 crore to Rs 5,25,374.14 crore. The market capitalisation (mcap) of State Bank of India went lower by Rs 7,675.16 crore to Rs 5,16,378.05 crore and that of ITC tanked Rs 5,903.31 crore to Rs 5,44,906.44 crore. Bharti Airtel's mcap declined by Rs 1,866.66 crore to Rs 4,64,396.71 crore. However, Reliance Industries added Rs 18,233.31 crore taking its market valuation to Rs 16,79,156.

Navigating 20% TCS: Smart tips for your overseas holiday this summer

Reduce trip duration if necessary, use prepaid forex card to nullify currency fluctuation, buy adequate insurance

Clarification on applicability of TCS on overseas credit card spends soon

The tax department will soon come out with a clarification in the form of FAQs to distinguish between expenses incurred on personal visits and business trips for levy of 20 per cent TCS on overseas credit card spends from July 1, a senior official said on Friday. Following a notification which brought credit card spends under LRS, concerns have been raised on how personal and business expenses would be segregated by the banks who will be required to deduct the TCS on such expenses. Finance ministry joint secretary (Tax Policy and Legislation) Raman Chopra said the government would soon issue a clarification on the mode of applicability of the TCS provision. "There has been a lot of discussion with the finance secretary, the revenue secretary and the finance minister. We are certainly going to come up with some clarifications and FAQs on that and that will clarify the position beyond any reasonable doubt in what manner TCS is to be collected and to what extent threshold is available

TCS records higher attrition rate among women than male colleagues in FY23

Lack of caregiving duties has impacted female workers during the Covid-19 pandemic, but with companies such as TCS, returning to work-from-office culture, many have chosen to opt out of the workforce

Top headlines: TCS defies tech-sector inertia, India's final call on IPEF

Business Standard brings you top news at this hour

Women employees attrition races past men at TCS as work-from-home ends

Largest tech company TCS on Tuesday said attrition among its women employees has raced past the same for men, hinting that the end of work-from-home may have a role to play in it. Its chief human resources officer Milind Lakkad said that historically, the attrition among women employees who constitute over 35 per cent of the over 6 lakh-strong workforce has been lower or similar to that of men, and called the development as "unusual". "...I would think working from home during the pandemic reset the domestic arrangements for some women, keeping them from returning to office even after everything normalised," he said in an interview published in the company's annual report. Lakkad acknowledged that the higher attrition among women is a "setback" to the Tata Group company's efforts to promote gender diversity and added that the company is focusing on reversing the trend. The annual report did not reveal the exact attrition number on the basis of gender. Its overall attrition peaked