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Infosys to appeal against Rs 577 crore tax demand

BANGALORE: Infosys, country's No. 2 software services exporter, said it would challenge a Rs 577 crore ($105.3 million) income tax demand raised by income tax department 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, Infosyssaid in a statement. It said the latest tax d ...

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Infosys market cap falls down the years

Bangalore: India’s No.2 software exporter Infosys Ltd has witnessed consistent decline in market capitalisation over the past two years, an apparent reflection of the tough business environment prevalent globally and the company's performance as perceived by the markets. Information gleaned from the fiscal 2013 annual report of the company reveals that from a high of Rs 1,86,100 crore in 2011, market capita ...

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IT-BPO industry top brass bat for innovation to fight slowdown

Gurgaon: Concerned over slowdown in business, the brass of the city’s IT and BPO firms are now emphasising on innovation.   “We have hit an air pocket. Despite having niche expertise and strong fundamentals, innovation has stopped in the last couple of years which is a question of worry,” said Nitin Seth, chairman of the National Association of Software and Services Companies (Nasscom) regional council ...

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Threats to Indian IT industry and two faces of hacking

New Delhi: The recent data theft by hackers from two Indian companies processing prepaid cards for several overseas banks, which led to a global fraud of 45 million dollars, has made India's 100 billion dollar IT industry a primary target of spam, phishing and viruses. The security breach has reopened the debate on IT security norms followed by Indian firms and the role played by 'ethical' hackers.   A ...

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5 Indian companies make it to 6th accelerator batch of 500 Startups

Five Indian startups have made it to the final list of 28 incubatees, picked by Dave McClure’s accelerator and seed investment fund 500 Startups for its 6th accelerator batch. More than two-thirds of the incubatees are global firms as the startups have been selected from around 14 countries besides the US. The programme has kicked off on April 15 and the batch graduates in July, followed by Demo Days, to ta ...

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India raises trade deficit concerns with Japan

Expressing concern over widening trade deficit, India today sought from Japan more market access for its exporters in sectors like agriculture, marine product and pharmaceuticals. The matter was raised by visiting Commerce and Industry Minister Anand Sharma with Japanese Foreign Minister Fumio Kishida. Sharma is on a two-day visit to Tokyo for a comprehensive review of bilateral economic engagement. "He (Sh ...

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Indian Students Win $60,000 Grand Prize at the Dell Social Innovation Challenge 2013

Bangalore: Dell announced today that a team of students from India received the $60,000 grand prize at theDell Social Innovation Challenge (DSIC 2013) for its project Solar Conduction Dryer. Shortlisted from more than 2,600 projects ideas that addressed issues impacting more than 110 countries, five finalists convened in Austin this week to compete for the cash prize as part of the DSIC. The DSIC recognizes ...

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Now Find Suppliers On-the-Go with IndiaMART Mobile Site & Android App

New Delhi:  From their mobile phones, buyers can now: - Find suppliers as per specific location/ city - SMS business enquiries to suppliers - Call suppliers directly by clicking on their numbers The emergence of m-economy is evident from 919 million mobile phone subscribers, 40 million smartphone users and 48 million mobile internet users in the country today. Taking the lead in bringing this mobility to In ...

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`.IN.NET` – New Internet Address for India, Launching June 17th

Mumbai: The Directi Group, India's largest supplier of domain names, has launched a new internet addressing domain '.IN.NET'. The new privately operated, Indian focused address will offer shorter, more memorable, first choice names which are otherwise hard to find in .com, .net or .in. So for instance, instead of registering mukeshandsons.in or .com, a certain Mr. Mukesh can now register mukesh.in.net as hi ...

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US Immigration Bill talks threaten Indian IT biz

Global headwinds continue to rock Indian IT. The new US Immigration Bill is the latest to whip up a storm. The Bill, which proposes drastic changes to the H1 B visa regime, is undergoing the first round of amendments in the Senate and the stricter hiring proposals have been left unotuched . And if this version of the Bill becomes law, top Indian IT companies like Infosys say this will be bad for business, r ...

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