Bangalore: Infosys Ltd, India's No 2 software services exporter, said on Monday it would challenge a $ 5.77 billion income tax demand raised by Indian authorities earlier this month.
The demand relates to certain tax benefits on income from software development done overseas at the clients' location and revenue from special economic zones in India, Infosys said in a statement. It said the latest tax demand disregards a clarification by the government in January.
Infosys is also contesting similar tax demands for the fiscal years 2005 through 2008, according to a recent filing with the US Securities and Exchange Commission. "Infosys is in the process of filing an appeal before the Commissioner of Income Tax," the company said.
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10:30 AM, May 20, 2013
New Delhi: Income Tax department has slapped a fresh $ 106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India's second largest IT firm. The Bangalore-based software services exporter is already contesting additional income tax demands of $ 214 million (about Rs 1,175 crore) for four fiscals years beginning 2005 and said it will take legal recourse against the...
12:28 PM, May 19, 2013
Mumbai: Shares in Wipro Ltd, India's third-largest software services provider, fell as much as 8.8 per cent in opening trade after it gave weaker-than-expected quarterly sales forecast on Friday. Wipro joined No. 2 player Infosys Ltd in delivering tepid revenue outlook, citing a delay in the closure of deals. Wipro also reported a 16.7 per cent rise in quarterly profit to Rs 17.29 billion on Friday. ...
09:58 AM, Apr 22, 2013
Mumbai: Tata Consultancy Services Ltd, India's top software services provider, matched estimates with a 22 per cent rise in quarterly profit and said it expects to grow revenue faster than a key industry-wide forecast for the year starting this month. Net profit for the fiscal fourth quarter ended March 31 rose to 35.97 billion rupees from 29.46 billion rupees in the year-earlier period, as it won orders from customers including...
05:32 PM, Apr 17, 2013
Bangalore: HCL Technologies Ltd, India's fourth-biggest software services provider, beat analysts' estimates with a 73 per cent rise in quarterly profit after winning orders and keeping a lid on hiring. Net profit rose to Rs 10.4 billion for the fiscal third-quarter ended on March 31 from Rs 6 billion in the year-earlier period, said HCL Technologies, whose customers include Finnish mobile phone maker Nokia Oyj. That compared with the average...
09:59 AM, Apr 17, 2013
In 'Accidental India: A History of the Nation's Passage through Crisis and Change', noted journalist-analyst, Shankkar Aiyar, examines India's ascent through the paradigm of seven game changers: the economic liberalization of 1991, the Green Revolution of the sixties, the nationalization of banks in 1969, Operation Flood in the seventies, the mid-day meal scheme of 1982, the software revolution of the nineties, and the passing of the Right to Information Act...
03:27 PM, Apr 09, 2013
New York: Ericsson, the Swedish maker of telecommunications equipment, has agreed to buy Microsoft's Mediaroom business, which makes the software that powers AT&T's U-Verse TV service, the companies said Monday. Neither company said how much Ericsson is paying. Mediaroom gives phone companies a way to provide cable-like TV services over phone lines. It's used in 22 million set-top boxes in 11 million households, Microsoft said. U-Verse accounts for about 4.5...
08:47 AM, Apr 09, 2013
Ericsson is in talks to buy Microsoft Corp's IPTV business, which makes software used by phone companies such as AT&T to deliver television over the Internet, Bloomberg reported, quoting people with knowledge of the matter. ...
03:35 PM, Mar 27, 2013
Known for its history, especially battle of the Mahabharata, Haryana's Kurukshetra district has scored a first in technology among all other districts in the country. Kurukshetra has become the first district to launch the Village Integrated Monitoring Software (VIMS) to bring transparency to development works being undertaken at the village level. ...
02:58 AM, Mar 27, 2013
Consumers will spend USD 22 billion on checking malware attacks this year, while companies will invest a whopping USD 114 billion in dealing with such malicious software, a study has said. ...
09:45 AM, Mar 07, 2013
Country's largest software firm TCS on Tuesday said it has agreed to settle a suit filed by two former employees alleging violation of the rights of its non-US citizen workers in the US. However, details of the settlement were not disclosed. ...
04:22 PM, Feb 26, 2013
Twitter Inc said it is opening up its platform to third-party advertising management software, taking another step to establish its ad-based business model ahead of an initial public offering. ...
11:30 AM, Feb 21, 2013
Government is expected to spend Rs 36,800 crore on IT products and services in 2013, an increase of 10.5 per cent over 2012, research firm Gartner today said. ...
04:20 PM, Feb 04, 2013
Office 365 Home Premium, is the first major overhaul of Microsoft Office since 2010. ...
07:20 AM, Jan 30, 2013
Apple has released a software update for iPhones and iPads that speeds up data downloads on some major overseas telecom networks and a handful of small US carriers. ...
11:02 AM, Jan 29, 2013
India's no.3 software services provider Wipro Ltd's less-than-perfect score on its quarterly earnings report card threw a measure of doubt over the sector's near-term outlook, with new projects and contracts still elusive. Since a week ago, better-than-expected results from Infosys Ltd, Tata Consultancy Services Ltd and HCL Technologies Ltd sparked a 13 per cent rally in the sector subindex that grinded to a halt on January 18. ...
02:58 PM, Jan 19, 2013
Iran's police chief says the Islamic Republic is developing new software to control social networking sites. ...
12:46 PM, Jan 06, 2013
Iran's police chief says the Islamic Republic is developing new software to control social networking sites. Gen. Esmail Ahmadi Moghadam was quoted in Iranian newspapers on Saturday as saying the new software will prevent Iranians from being exposed to malicious content online while allowing users to enjoy the benefits of the Internet. He did not say when the software would be introduced. ...
11:54 PM, Jan 05, 2013
Researchers have developed a new software that makes the technology of opening car and home doors using smartphone apps more secure and versatile. ...
12:56 PM, Jan 05, 2013
icrosoft began the new year harping on a favourite theme: The software maker is arguing that government regulators need to crack down on Google to preserve fair competition in the Internet and smartphone markets. ...
11:10 AM, Jan 03, 2013
