Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
While gold continues to provide safety after its strong 2025 rally, well-chosen real estate investments held with a long-term view remain attractive.
Average employee salaries in India are set to increase by 9 per cent in 2026, with a renewed focus on short-term incentives and skills-based systems, a report said on Wednesday. According to Mercer's Total Remuneration Survey 2026, organisations in India are shifting toward broader, more holistic value propositions and the top factors influencing salary increases include individual performance, inflation and the organisation's competitiveness in the job market, among others.
'Companies will need to revisit compensation structures, contracts, staffing models, and human resources system.'
The debate over working hours flared up after Infosys Co-founder N R Narayana Murthy called for 14-hour workdays.
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
While TCS cited evolving business needs and future readiness as reasons, industry experts say the action is a cost-cutting measure aimed at improving operating margins that have remained below the firm's aspirational range despite multiple efforts.
India and the UK have respected each other's political sensitivities during the negotiations for free trade agreement, with New Delhi agreeing to drop its demand on post-study work visas for students in exchange for Britain withdrawing its request to open up legal services here, an official said on Wednesday.
Tata Consultancy Services is the top IT-ITES employer in India, followed by Infosys Technologies and Wipro Technologies.
'The overwhelming evidence from various studies and reports indicates that the current work culture in the IT sector, characterised by excessive hours, has severe consequences for health, productivity, and overall quality of life.'
In an online chat with Get Ahead readers on April 26 Sunder Ramachandran of WCH Training Solutions guided them on how best they can improve their employability skills to get meaningful employment in the IT/ITES sector. Here is the unedited chat transcript.
About 640,000 professionals were employed in the domestic market and 23,24,000 in outside the country.
New supply of office space across seven major cities fell 4 per cent annually in the July-September quarter to 12.8 million square feet while gross leasing of prime workspace rose 17 per cent, according to Vestian. In its report released on Wednesday, real estate consultant Vestian said the fresh supply of office space in Hyderabad declined 25 per cent in the July-September quarter to 4.10 million square feet.
Every rupee spent by the IT-ITeS sector (on domestically-sourced goods and services) translates into a total output of Rs 2 in the economy.
According to IDC report 'India Domestic IT/ITeS Market Top 10 Predictions for 2009', the country's IT/ITeS market growth rate is expected to fall to 16.4 per cent in the coming five years till 2013 from an average of 24.3 per cent during 2003-08. This slower rate of growth will see enhanced competition leading to a rapidly changing strategy and continuous market re-alignment on the part of players, IDC said in a statement.
IT companies are dependant on headcount for their revenues and fringe benefits forms a part of the compensation payable to employees.
The Indian information technology and related services industry is predicted to become a $100 billion plus industry by 2011, growing at a compound annual growth rate of 18 per cent, states an IDC report.
A survey of more than a 1,000 plus salaried IT/ITES taxpayers from Bangalore, Chennai and Hyderabad has revealed interesting facts about how they plan their taxes, medical insurance, life insurance and investments.
Domestic IT and ITeS market is likely to reach Rs 1,10,000 crore mark in 2008, as revealed in a study.
Buoyed by growth in exports and strong domestic demand, the Indian IT-ITeS industry has recorded $39.6 billion in revenues in 2006-07, up 30.7 per cent against a projected growth of 27 per cent, according to Nasscom.
The recent 'revelation' by TN fishers freed by Sri Lanka after they had paid up Lankan rupees 50,000 each in fines, that their hair was tonsured in prison and they were forced to remove their garments other than the underpants, and were also made to clean toilets, as if with vengeance, has touched a raw nerve this time, just as another issue or issues had done it ahead of the Jallikattu protests, observes N Sathiya Moorthy.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
The service tax on customised software is a negative for technology companies but it will be passed on to the clients.
The budget proposes to reduce surcharge on domestic companies to 7.5% from 10%.
The IT and ITeS sectors expect a reduction in minimum alternate tax (MAT) and dividend distribution tax in the next month's Union Budget, a senior economist said on Tuesday.
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
In an effort to meet the demand of projected 2.1 million people in the software and services sector by 2008, National Association of Software and Service Companies
Companies wanted continued fiscal support from the government in form of extension of the provisions of section 10 A/10 B of the Income Tax Act 1961, according to the results of the study released on Friday. The income tax holiday under sections 10 A/10 B are set to expire on March 31, 2010.
The Business Process Industry Association of India, an affiliated association of the Confederation of Indian Industry, in its pre-budget memorandum, has also demanded the extension for tax sops from the Software Technology Parks of India for at least 20 years.
The IT and ITes sector will contribute to seven per cent of the country's GDP by 2007-08 from 4.8 per cent in 2005-06, a senior government official said on Wednesday.
Unique benefits, work-life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies
With the fate of the Development Enterprise and Services Hub (DESH) Bill in limbo, the commerce department is working towards tweaking some rules under the existing special economic zone (SEZ) law to allow use of unutilised spaces in IT/ITES for non-SEZ purposes. The move, when implemented, will free-up the land area that is not in demand through partial de-notification of certain floors or buildings, thereby allowing easier exit. "The department of commerce is discussing the matter with the revenue department before making changes in the Special Economic Zone Act, 2005," a person aware of the matter
The total leasing of office space, which comprises demand for all grades of buildings, rose 93 per cent year-on-year in January to 3.2 million square feet across seven major cities, according to property consultant JLL India. However, the leasing fell 56 per cent, compared to December 2022, which had seen 7.4 million square feet office space absorption. In January 2022, the aggregate leasing activities stood at 1.7 million square feet.
Information technology and IT-enabled Services will continue to drive the employment generation in the country for the quarter July-September 2005, according to a Ma Foi Employment Survey.
India's traditional PC market, inclusive of desktops, notebooks, and workstations declined by 11.7 per cent year-on-year (YoY) in Q3CY22 (Jul-Sep) after 8 consecutive quarters of growth despite strong shipments of 3.9 million units, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. All segments declined except the government, which grew by 91.5 per cent YoY on the back of government orders, leading to strong growth in the third consecutive quarter. While the desktop and workstation categories grew by 23.4 per cent and 17.6 per cent YoY respectively, the notebook category declined by 19.5 per cent YoY.
Housing sales have jumped over two-fold during July-September period at 62,800 units across seven major cities on better demand driven by low mortgage rates and hiring in IT/ITeS sector, according to property consultant Anarock. Sales of residential properties stood at 29,520 units in the year-ago period and 24,560 units in the previous quarter. The seven cities tracked by Anarock are Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
India's value proposition and overall shift towards offshore information technology and IT-enabled services will lead to an annual growth rate of 35 per cent in the sector.
Driven by steady recovery in demand for technology services, the Indian IT industry is expected to hire about 2.5 lakh people during this fiscal, software representative body Nasscom said.
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