Page 35 - Tcs

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

TCS defies tech-sector inertia: Top execs see salary hikes in FY23

Rajesh Gopinathan, who stepped down from the role of CEO and MD of TCS, saw his total remuneration go up 13.17 per cent for 2022-23 (FY23)

At Rs 29.16 cr, former TCS CEO Gopinathan earned 13% more in FY23 than FY22

Gopinathan received a compensation of Rs 25.75 crore, making him the fifth-highest-paid CEO in the Indian IT services sector

Here is what TCS Chairman N Chandrasekaran said about investing in AI

India's largest IT services company is significantly investing in building AI capabilities, said the TCS chairman

TCS launches data exchange and marketplace platform on Google Cloud

The platform enables enterprises to democratise and monetise data across ecosystems

How to avoid TCS when your child goes abroad for higher education

Are you sending your child abroad for higher education? If yes, these pointers can help you avoid high TCS charges

TCS selected as strategic partner of Teachers' Pension Scheme in Eng, Wales

The IT major has been awarded a 10-year contract to manage the second-largest pension scheme in the UK using a platform powered by TCS BaNCS

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