TCS is confident of achieving a double-digit revenue growth in the current fiscal and will be targeting a similar performance in FY24 as well, a senior executive said on Tuesday. The largest IT services exporter's ability to achieve the number in FY24 will hinge on how the macroeconomic situation, including geopolitical tensions, commodity price pressures, inflation and financial tightening worries, play out, chief operating officer N Ganapathy Subramaniam told PTI. "(For) this year (FY23), probably we are there (double-digit growth).
Recently, TPEM's first born electric concept, Avinya broke cover. The model promises a minimum range of 500 kilometres and advanced technology features, aimed at buyers in India and outside. TPEM, the newly formed entity may also consider a separate dedicated sales channel for the EVs with a distinctive corporate identity once the volumes reach a critical mass and throughput is large enough for the dealers to be profitable, said Chandra. Elaborating further on the hiring strategy he said, "We will hire from everywhere-wherever the talent of the required competency is available."
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The board is likely to take up the matter this month.
The Centre is staring at a combined shortfall of up to Rs 1 trillion in excise and Customs revenues in the current financial year (FY23) compared to the Budget estimates (BE), mainly because of duty cuts on edible oil and petroleum products. The government set a target of Rs 3.35 trillion for excise and Rs 2.13 trillion for Customs mop-up for FY23 while presenting the Budget in February. "As excise duty collection is mainly driven by diesel volumes, we might see a clear gap in the level budgeted for FY23, following the reduction in cesses on petrol and diesel in May. We are expecting somewhere between Rs 80,000 crore and Rs 1 trillion dip in excise and customs duty collections," a senior government official told Business Standard.
'The market will focus on the fact that India does have strong earnings growth this year.'
For the urban population, recalibration of ATMs has already started and they will start dispensing the new Rs 2,000 currency notes from Monday or Tuesday.
Pradhan Mantri Jan Dhan Yojana scheme will help in bringing the benefits of formal banking system to even the poorest of poor.
The efforts will also be made to introduce mobile banking on all kinds of phones, Finance Minister Arun Jaitley told reporters after meeting the heads of PSU banks here on Thursday.
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
Rahul Bedi, the New Delhi-based correspondent of Jane's Defence Weekly, tells Sheela Bhatt why the rapid American shift of the Indian military hardware is a dangerous development.
As reports of political parties swiftly switching loyalties -- to quench their thirst for power -- swirl over Maharashtra, Rediff.com speaks to different players involved in the game of thrones.
India's gold demand increased by 19.2 per cent to 76.1 tonne during the April-June quarter this year, largely due to low base effect, owing to the nationwide lockdown that hit economic activity last year, the World Gold Council (WGC) said in a report. The overall gold demand during the second quarter of 2020 calendar year stood at 63.8 tonnes, according to the WGC's 'Gold Demand Trends Q2 2021' report. In value terms, India's gold demand witnessed 23 per cent growth during April-June quarter at Rs 32,810 crore, compared to Rs 26,600 crore during the corresponding period of 2020.
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
IT major TCS on Thursday posted a 28.5 per cent increase in consolidated net profit at Rs 9,008 crore for the first quarter ended June 30, 2021. The country's biggest software services firm had posted a consolidated profit of Rs 7,008 crore in the same quarter a year ago. Consolidated revenue from operations increased by 18.5 per cent to Rs 45,411 crore compared to Rs 38,322 crore in the corresponding quarter of 2020-21.
Revenue of the Mumbai-based firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal.
If the shares are purchased for investment, then it would be treated as a capital asset and taxed as capital gains.
But if the shares are bought and sold in a short duration repeatedly, then it would be taxed as business income, explains Amit Gupta.
The Indian Institute of Export Management invites applications for its correspondence diploma course in Export Management.
Telecom companies (Airtel, Vodafone, ABNL-via Idea Cellular), which enjoy larger reach, appear to be better placed among the key companies bagging payments bank licences.
Businesses that have not filed GSTR-3B returns in the preceding two months will not be able to file details of outward supplies in GSTR-1 from September 1, GSTN has said. While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between 20th-24th day of the succeeding month. In an advisory to taxpayers, GSTN, which manages the technology backbone for Goods and Services Tax, said that Rule-59(6) of Central GST Rules which provides for restriction in filing of GSTR-1, will come into effect from September 1, 2021.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
One can expect significant changes at India's banks in ensuing months.
Its revenue grew 8.5 per cent to Rs 23,665 crore in the quarter under review from Rs 21,803 crore in the corresponding period last fiscal.
Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
Financial inclusion has been on the top of the govt's top agenda.
Challenges abound but innovation is key for new banks inorder to survive.
Denmark topped the list of the 144 nations.
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
The tech giant said it is unable to provide revenue outlook for FY 21 due to business uncertainty amid COVID-19 outbreak.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
Hindustan Unilever Ltd, India's largest personal care product maker, on Tuesday reported a better-than-expected increase in its September quarter net profit and revenues, signalling a revival of demand following the world's biggest lockdown.
Telecom operator Bharti Airtel on Tuesday reported a 2.8 per cent decline in its consolidated net profit to Rs 830 crore for the third quarter ended December 2021. The company had recorded a net profit of Rs 854 crore in the same period a year ago. Consolidated revenue increased by 12.6 per cent to Rs 29,867 crore, from Rs 26,518 crore in the December 2020 quarter.
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
Tuition classes: Saviours or demons, asks Ajit Balakrishnan.
Kangana Ranaut ticks off all the boxes of the poker-faced spy model in Dhakaad, observes Sukanya Verma, but the the movie needs real rescuing.
A senior RBI official said the regulator was focusing on performance of banks' statewise and in each district.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Opposition is expected to raise these issues in the session beginning July 19. It will be the first session of parliament after the outbreak of the devastating second wave of Covid.
Hit by Covid waves and slowdown, the Indian Railways has still not been able to return to its pre-pandemic passenger traffic, data by ministry of Railways has revealed. In February, the national transporter received 413 million ticket bookings - 43 per cent higher than the previous year, but only 61 per cent of the 675 million in February 2020. According to the statistics, that was the last time the Railways saw more than 500 million bookings in a single month.
