Page 28 - Tcs

TCS denies strict warning to employees in return-to-office policy

Tata Consultancy Services clarified that it had not linked career or compensation to its return-to-office policy, following reports of memos being sent to employees

TCS set for 'exciting new journey ', says new CEO & MD K Krithivasan

New leader of India's largest IT services firm he is taking up role 'on the strength of friendships and relationships'

Combined brand value of Indian companies surpasses $100 bn: Interbrand

TCS tops the list, followed by Reliance Industries and Infosys

Top 4 IT companies see 40% drop in large client additions in FY23

Infosys is the only IT firm whose net client addition remained flat at 23 in FY23. All the other firms added fewer clients

'Period of tremendous growth': Gopinathan recalls 6-yr at helm in TCS

Change of guard at IT services giant today, with Krithivasan set to pick up baton

India Inc's dividend payout rises 26% to Rs 3.26 trillion in 2022-23

The dividend per share recommended by the top three corporations was more than double that of the previous year, with TCS again at the top of the list

Govt plans to link tax collected at source with tax deducted at source: CEA

The government is attempting to link tax collected at source for payments made by individuals with tax deducted from their income sources, a move that will help in ensuring cash flows of the individual taxpayers are not impacted, according to a senior official. The move also comes at a time when the government is set to impose a 20 per cent Tax Collection at Source (TCS) on certain international spends from July 1. Generally, TCS is the tax collected by a seller at the time of sale of goods or services while Tax Deducted at Source (TDS) is the amount levied as tax by the government. The government has exempted transactions up to Rs 7 lakh from the TCS, providing relief to small taxpayers. So, bulk of the transactions made by most will not be covered under 20 per cent TCS, Chief Economic Advisor (CEA) V Anantha Nageswaran has said. Defending the decision, he said, "And it (government) also attempts to link the TCS with your TDS such that if there are TCS payment made by you it has t

Zurich insurance company DIFC transforms biz operations with TCS BaNCS

TCS BaNCS for Property and Casualty is a complete insurance solution suite designed to manage a wide range of complex contracts and calculations with enhanced regulatory compliance and auditability

JLR partners with TCS to launch its open innovation programme in Israel

The programme will leverage TCS' Co-Innovation Network in Israel, to identify local technology offerings and scale them to global mobility solutions and services

Clarity needed on TCS levy on credit card payments, says tax experts

Tax experts on Monday sought clarity on the applicability of TCS on foreign payments of over Rs 7 lakh made via credit cards, saying it would be difficult for the I-T department to differentiate between personal and business visits. The government on May 16 issued a notification under Foreign Exchange Management Act (FEMA), which effectively imposed a 20 per cent TCS on international credit cards (ICC) spends in foreign exchange. ICC spending was brought under the RBI's liberalised remittance scheme (LRS). However, expenses incurred by an employee on a business visit when such expenses are borne by the employer, do not come under LRS and hence were exempt from 20 per cent Tax Collected at Source (TCS). Amid backlash from various sections of people, the government on May 19 decided to exempt ICC payments up to Rs 7 lakh a year from TCS. Experts, however, feel still there are grey areas which are needed to be addressed by the Income Tax department. Nangia Andersen India, Partner, Ne

TCS to leverage Google Cloud's generative AI to design custom solutions

Tata Consultancy Services has expanded its partnership with Google Cloud for generative AI offerings, the company said on Monday. Under the partnership, TCS will leverage Google Cloud's generative AI services to design and deploy custom-tailored business solutions for the clients. "Our launch partnership with Google Cloud on generative AI enables us to rapidly create value for our customers. TCS is investing in assets, frameworks, and talent to harness the power of generative AI to enable growth and transformation for our customers," TCS, Enterprise Growth Group, President, Krishnan Ramanujam said. TCS said it is working with clients in multiple industries, to explore how generative AI can be used to deliver value in their specific business contexts. The company said it has been investing in scaling its expertise in rapidly evolving cloud technologies. "TCS' expertise in business transformation and its commitment to train thousands of people on Google Cloud Generative AI will be .

TCS-led consortium secures BSNL 4G deployment order worth Rs 15,000 crore

Around 75% of the deal will go to TCS, say sources; consortium is expected to develop 4G core and RAN technology for BSNL's telecom services

TCS-led consortium wins Rs 15,000 crore BSNL 4G network rollout deal

Tejas Networks, a subsidiary of Tata Group, is a part of the consortium and will supply and service the radio access network equipment

Overseas debit, credit card payments up to Rs 7 lakh a yr out of LRS: Govt

These transactions will not attract tax collected at source

TCS on foreign trips will not hit demand, but compliance a concern: Firms

"The government should now offer the relief to tour packages as well, irrespective of the mode of payment," said Mohit Kabra, chief financial officer of MakeMyTrip

No TCS on overseas payment via international credit, debit cards: FinMin

The government on Friday said no TCS will be levied on international spending of up to Rs 7 lakh a year by using debit or credit cards. Facing backlash from a wide section of people, the Finance Ministry said the move is aimed at removing procedural ambiguity with regard to Liberalised Remittance Scheme (LRS) and the levying of Tax Collected at Source (TCS). The ministry's decision earlier this week to bring international credit card spending under the RBI's liberalised remittance scheme (LRS) and the consequent levy of 20 per cent TCS has evoked sharp reactions from experts and stakeholders. "To avoid any procedural ambiguity, it has been decided that any payments by an individual using their international Debit or Credit cards up to Rs 7 lakh per financial year will be excluded from the LRS limits and hence, will not attract any TCS," the ministry said in a statement. Currently, payments of up to Rs 7 lakh for medical treatment abroad and towards education do not attract TCS. TCS

Your credit card payments overseas will attract a 20% TCS from July 1

For every $100 you spend abroad using your international credit card, you will need to fork out $120 and then claim it when you file your tax return

Tata Sons set to earn record dividend worth nearly Rs 33,350 cr in FY23

Rs 33K-cr payout by group firms up 130% YoY

TCS, Intellect in race for development of advanced version of portal GeM

IT major TCS and Intellect Design Arena are in the race for a contract for the development of an advanced version of public procurement portal GeM, sources said. The government invited tenders for new GeM (Government e-marketplace) portal development work in February-March this year and after scrutiny of the bids, TCS and Intellect Design Arena qualified in the technical stage. Fintech Company Infibeam Avenues Ltd is out of the race as it was disqualified during the tender evaluation as the company was not able to submit the Capability Maturity Model Integration (CMMI) certificate which is mandatory for IT projects, they said. The government had set a pre-condition for the bidders to have a special certificate to qualify for the GeM portal tender. At present, a private consortium, including Intellect Design Arena and Infibeam, is running the portal. GeM was launched by the commerce ministry in August 2016 for online purchases of goods and services by all the central government ...

IT firms hired more women in 2022-23, 6.5% growth registered: Survey

A survey conducted by staffing firm Xpheno found that the proportion of women employees increased 6.5% at the top IT companies in FY23