Page 30 - Tcs

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

TCS to develop its own ChatGPT with focus on enterprise code generation

TCS is expected to release some of these solutions by the last quarter of this financial year

IT firms give staffing companies a miss, fill vacancies internally

Companies were doling out up to 100 per cent hikes to hire top IT talent only a year ago, the situation has completely changed today

IT major TCS advances generation of income tax Form 16 documents by 45 days

India's largest private sector employer, TCS, has advanced the generation of Form 16 documents for its staff by 45 days to help its over 6 lakh employees file their income tax returns in time. The forms were issued by April 27 and all the present and past employees have received their Form 16 documents, its deputy chief financial officer Lakshminarayanan G S said. He said the initiative -- which includes wide ranging usage of technology to do away with any manual intervention, has been done as part of improving the employee experience at the largest IT services export company. Planning for this exercise started in September 2022, and the company could advance the Form 16 generation by 45 days, its head of global employee services in the corporate finance department, Ashwini Kennedy, said. There a total of 18 lakh digital signatures - each form requires three - that had to be done after finishing the tax deducted at source (TDS) requirements on April 10, she said. Lakshminarayanan

Q4 results: India's IT services biggies fail to meet expectations

Wipro net dips 0.4% in Q4, guides for revenue contraction in current quarter

HCL bucks the trend; says it intends to hire as others continue to fire

The firing spree was not limited to back-office jobs and affected big tech companies, including Amazon, Meta, Microsoft, and Google parent Alphabet, among others

Attrition in IT firms to go back to pre-pandemic levels by October: Experts

In their Q4 results, two of the three IT majors in India, TCS, and Infosys, showed that high attrition was still a problem

Here's how K Krithivasan will spend his first six months as TCS CEO

Krithivasan will take over as the chief executive officer of Tata Consultancy Services on June 1. Here's how he intends to spend the first six months

TCS tops as best place to work in LinkedIn's 2023 Top Companies India list

Tata Consultancy Services has emerged as the top company in a list, which showcases the best places to work and grow careers, for 2023. TCS is followed by Amazon (2) and Morgan Stanley (3) in the '2023 Top Companies India' list prepared by LinkedIn. There has been a shift from tech companies, which dominated the list last year, with companies across financial services, oil and gas, professional services, manufacturing and gaming featuring in this year's list. A vast majority of the companies, that is 10 out of 25 companies are from the financial services/ banking/ fintech space, including companies such as Macquarie Group (5), HDFC Bank (11), Mastercard (12), and Yubi (14). "In this uncertain environment, professionals are looking for guidance on the companies to work that offer career growth and will set them up for long-term success. The 2023 Top Companies list is filled with actionable insights and resources to help professionals at all levels discover job opportunities," Linked

TCS best place to work in India, esports platforms make it to top list

There has been an emergence of new players, with 17 out of 25 companies debuting in the list

Big 4 push the tech button, look to expand IT service presence in India

The big four are best known for their accounting and audit services globally. However, with time, they have added several more services to their work

Weak guidance, muted sentiment to weigh on near term IT outlook

There could be more downsides if the rest of IT pack disappoints

TCS may consider giving 12-15% hikes to top employees to curb attrition

TCS is also planning to raise base salaries in its campus recruitment drives. If implemented, this is likely to make Infosys, HCL Technologies, and Wipro follow suit

Infosys can slip below Rs 1,000 levels; TCS can hit Rs 2,900, charts show

Nifty IT index may fall up to 3 per cent post hitting a new 52-week low, trend turns bearish.

Nifty IT index plunges 8% after TCS, Infosys post subdued Q4FY23 results

At 09:47 am; Nifty IT index, the worst performer, down 6 per cent, as compared to 1 per cent decline in the Nifty50 index