If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
The 34th annual general meeting (AGM) of IT major Infosys held Monday was an exceptional one.
Sheela Murthy, founder, president, and managing attorney of the Murthy Law Firm, has won the Philanthropist of the Year award from the United Way of Central Maryland for her $1 million gift to United Way, a large portion of the sum being marked to go to India.
Not only has the gap between Infosys and the market leader Tata Consultancy Services increased in recent quarters, even Cognizant has overtaken Infosys.
N R Narayana Murthy, Chairman, Infosys, has plans to turn the company into a bigger, stronger, and global player.
At a time when speculation was rife about its course after the organisational rejig last week, Infosys on Friday validated the changes, exuding strong faith in its leadership pipeline and gave a clear signal that the company was unperturbed by the slew of senior exits in the recent past.
Infosys chairman N R Narayana Murthy has emerged as India's most admired business leader for the fourth consecutive year, according to a survey by brand consulting, advertising and PR firm Brand-comm.
iGate sacked Murthy for violating company policy on relationship with a colleague. Since his termination was for professional misconduct, he may end up losing the severance benefits.
The US-listed company, which has bulk of its employees in India, has appointed Gerhard Watzinger as interim chief executive with immediate effect.
Infosys founder said that apart from the top 20 per cent of students who crack the tough IIT entrance examination and can 'stand among the best anywhere in the world,' quality of the remaining 80 per cent of students leave much to be desired.
The Indian Institutes of Technology and IIT-JEE coaching institutes have not taken kindly to Infosys Technologies founder, N R Narayana Murthy's comment that questioned the quality of students at these institutions.
Infosys Chairman N R Narayana Murthy has cautioned that any protectionism that prevents free flow of capital, human talent and technological expertise, would 'set the clock back by decades' in terms of growth in productivity.
A day after she praised Rohan Murthy's performance at Infosys' board meeting, the firm's newly-appointed independent director and Biocon head Kiran Mazumdar Shaw on Wednesday apologised for the remarks.
India needs foreign direct investment of $480 billion in the next 10 years if the country wants to achieve the GDP growth it is aiming at, Infosys chairman and chief mentor N R Narayana Murthy said on Monday.
Infosys founder, N R Narayana Murthy, otherwise an admirer of the government, says he's unhappy at the way Sonia Gandhi and Manmohan Singh have handled the Lok Pal Bill issue.
Murthy's life story is to be the content of a new comic to be brought out by Amar Chitra Katha, the popular comic book series, making him the first living person to be featured in the Amar Chitra Katha series, which mostly focuses on popular Indian myths and legends.ACK Media, the publisher, will follow this up with stories of famous personalities like cricketer Sachin Tendulkar and former Indian President and Bharat Ratna award winner, APJ Abdul Kalam.
He may make a comeback as co-chairman at India's second largest software exporter.
We are Indians but it is not necessary to be Indian in every one of our aspirations.
'I tell those in their 20s that age is on their side and they should start exercising early.' 'Just like investing in good stocks, if they start early, they will get the multiplier effects of being healthy, fit and strong later in life.'
Faced with a spate of senior-level exits, Infosys co-founder N R Narayana Murthy has written to employees to reassure them that the "leadership changes" will be in the "best interest" of the company.
Outsourcing firm iGate has been slapped with class action lawsuit in the US for alleged violations of federal securities laws in view of its sacked CEO Phaneesh Murthy's "improper relationship" with a subordinate employee.
In a discussion with Business Standard, Murthy shares the roadmap ahead.
Union Finance Minister Nirmala Sitharaman, former chief minister B S Yediyurappa, IT industry veteran N R Narayana Murthy along with wife Sudha Murty, and Mysuru royal family member 'Rajamate' Pramoda Devi Wadiyar, were among the early voters who cast their ballot in the Karnataka Assembly polls.
Infosys mentor N R Narayana Murthy said on Monday there was no need for Indian IT industry to be apolgetic or shy about US outsourcing curbs during President Barack Obama's visit to the country next month.
The controversy arose following a statement made by Murthy at a press meet he addressed later at which he defended the playing of instrumental version of the national anthem to avoid embarrassment to foreigners present at the function.
Staff left India's second largest IT services exporter Infosys Ltd at an unprecedented pace in the last quarter, worrying its management and raising investors' concerns about its ability to win lucrative contracts even as it posted a higher-than-expected net profit for the period.
The US Congress has imposed a special fee of up to $4,500 on the H-1B and L-1 visas.
Indian companies can help Pakistan strengthen its IT-BPO industry by sharing expertise and best practices with their Pakistani counterparts, Infosys Chief Mentor NR Narayana Murthy said.
The founder of Infosys Foundation speaks about her passion and about her husband Narayana Murthy.
We have to walk a very fine line between our desire to mobilise more and more taxes or having higher percentage of taxes, he says
Rohan Murthy, the only son of his parents, has found his life partner in Lakshmi Venu, the 26-year-old daughter of TVS Motor co-chairman Venu Srinivasan. In no time after confirmation from the bride and the groom, the two families sealed the merger of souls with their engagement in Chennai on Friday evening.
Within days of his appointment as International Advisor on Information Technology to Sri Lankan President Mahinda Rajapaksa, IT czar N R Narayana Murthy on Wednesday quit from the post citing personal reasons.
The British prime minister, who is of Indian origin, has often emphasised his Hindu roots and said he is proud of it.
In yet another recognition to India Inc's growing prowess, Infosys Technologies Ltd founder N R Narayana Murthy takes over as Chairman of the prestigious Asia Business Council.
We have to speed up our responses to the critical areas that we have, he says.
Murthy's recent US trip helped to curb company's inflexible, arrogant perception
Infosys employees presented Murthy and his family members a sketch of his on a rice grain.
Concordia University confers honorary doctorate on Infosys founder N R Narayana Murthy.
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