IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
rediffGURUS Hardik Parikh, Tejas Chokshi, Mihir Tanna and Sanjeev Govila answer your tax related queries.
Banks have started organising silent demonstration in front of houses of defaulters.
United Bank of India and Andhra Bank employees start organising silent protests.
Several groceries in the metro ran out of milk, curd, bread, and milk powder and some of them displayed "no milk, curd" boards.
The rumours have primarily been about the impending resignation of JD-U national president Rajiv Ranjan Singh 'Lalan', for alleged proximity towards ally Rashtriya Janaat Dal at the expense of loyalty to his own party.
The world is on the threshold of a new era of cooperation in which individuals, business and nations more readily join forces, thanks to the coronavirus pandemic and only a global effort can help get back to normality from the health crisis, according to Tata Sons chairman N Chandrasekaran. In his New Year address to over 7.5 lakh employees of the consumer products to aerospace conglomerate, Chandrasekaran said the pandemic has rewritten the rules and there has been a shift in priorities with greater focus on safety and resilience, and a transition from 'just in time' toward 'just in case' -- changes that "offer a glimpse of the new economy that will emerge from the old".
Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages.
There are over 1.36 lakh employees, including employees and pensioners under the new pension scheme.
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
HDFC Asset Management Company (HDFC AMC) reported a healthy profit after tax (PAT) of Rs 430 crore for the July-September quarter (Q2) of financial year 2023-24 (FY24). It rose 20.2 per cent year-on-year (Y-o-Y) and decreased 8.4 per cent quarter-on-quarter (Q-o-Q). This was driven by good equity returns, leading to a sequential improvement in revenue yields.
The government on Thursday decided to provide budgetary support of Rs 141.41 crore (Rs 1.41 billion) to 16 central public sector undertakings to enable them to pay pending salaries and statutory dues of their employees.
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
UK's Cairn Energy Plc has offered to forego $500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed retrospectively, sources said. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan. In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation.
To offer additional support at the low end of the income ranges, the Centre will consider a large-scale jump in exemption rates under the old income-tax regime in the vote on account, or interim Budget, according to a senior official in the know. Those will include an extension of the income tax exemption rates close to Rs 7 lakh and additional measures for women farmers.
Byju's plans to raise funds at a lower valuation of $7-8 billion as the embattled edtech major looks to shore up its financials with adequate liquidity, a senior company executive said on Tuesday. Banking on overall "improved performance", Think and Learn, the parent of Byju's, is hopeful of a higher valuation ahead of its rights issue being planned in February to raise funds. Byju's India chief financial officer Nitin Golani said the company is in need of funds and plans to raise it at a lower valuation to make the offer lucrative for investors as well as ensure adequate liquidity support for the edtech firm.
Missing the deadline for filing Income Tax returns can lead to consequences.
Kingfisher Airline employees, who have not received their May salary despite an assurance from the airline management, are likely to chalk out an action plan next week, if they do not receive their dues by November 17.
Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
Bengaluru recorded the highest green building stock at 140 million square feet, followed by Delhi-National Capital Region at 74 msf, and Hyderabad at 72 msf for Grade A office buildings as of September 2023.
The Lucknow bench of the Allahabad high court on Wednesday stayed the Uttar Pradesh government's order suspending the licence of Sanjay Gandhi Hospital in Amethi over the death of a 22-year-old woman after a surgery.
"It is very easy to fling allegations and letters," an anguished Chief Justice of India D Y Chandrachud said on Thursday while clarifying that the bail plea of Aam Aadmi Party leader Satyendar Kumar Jain in a money laundering case was listed before a bench headed by Justice Bela M Trivedi as Justice A S Bopanna was unavailable due to illness.
More than 2,800 jobs will be axed as Tata Steel plans to close its blast furnaces at the Port Talbot plant in South Wales in the UK. Of the total job cuts, 2,500 will be in the next 18 months, said Indian conglomerate Tata. A further 300 jobs are to go in three years.
This case is the largest investigated by the Pandemic Response Accountability Committee Fraud Task Force to date, US Attorney for the Northern District of Texas Leigha Simonton said in a press release.
'Employers are shifting from a focus on employee experience to employee life experience.'
Senior lawyer M V Kini agrees to fight their case for free, given their financial condition
In a startling revelation, a former Cricket Australia employee, on Monday, alleged she was sacked because she campaigned for improved abortion rights and criticised the state government on social media.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
A video purportedly of the incident had gone viral on social media, they said, adding that the accused has been "terminated from the service".
SmartCommute is a solution for employee commuting safety, which helps track employees and vehicles during regular commutes and also helps employees contact transport management teams efficiently in case of an SOS situation.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
As many as 14,091 civilians and 5,356 security force personnel lost their lives to militancy in Jammu and Kashmir between the 1990s, when militancy first reared its head in the valley, and 2020.
The United Forum of Bank Employees Unions (UFBEU) representing about 9.5 lakh (950,000) bank employees across the country, has given a two-day nation-wide bank strike call on August 6 and 7 in support of their expedite settlement of wage revision demands.
India's second-largest information technology (IT) firm Infosys has decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter (Q1) of 2022-23 (FY23), said people in the know. "The margin impact in the current quarter has reflected on the performance bonus for this cycle," the company told its employees over email. "While 70 per cent is the correct figure, an important point is we have been told that the company will not defer any variable payment. "It is being paid according to schedule," said a person.
Finance Minister Nirmala Sitharaman will present her sixth straight Budget ahead of the Parliamentary elections, matching the record of former Prime Minister Morarji Desai. Sitharaman in her pre-election Budget, which technically is a vote on account and popularly termed an interim Budget, will seek Parliament's nod for a grant in advance to meet the central government's essential expenditure for the first four months of the new fiscal year that starts in April. A new government elected after the April/May general elections will present the full Budget, likely in July.
