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.
In spite of that the founders never voted against any resolution, those who differed abstained.
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
S D Shibulal, former chief executive and managing director of Infosys, has joined the ranks of the company's other founders in nurturing start-ups.
Joining the likes of N R Narayana Murthy and Azim Premji to blame the Indian government for policy inaction, UK-based NRI billionaire L N Mittal said the country is potentially condemning millions to remain in poverty by not helping industrialisation.
Forbes said this year's 1,226 billionaires are a record high, up one per cent from last year's total.
But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Infosys co-founder N R Narayana Murthy on Monday denied that he had withdrawn his concerns about governance lapses at the firm, saying the board has to address these "properly" and "full transparency should be displayed and people responsible for it should become accountable".
His detractors now say they're believers again, after Murthy stepped down to allow Sikka to chart his own course.
Outgoing Infosys co-founder and chairman N R Narayana Murthy on Wednesday said the sacrifices made by his colleagues in the initial days of the company was unparalleled.
Rishi Sunak, one of the finalists in the race to succeed Boris Johnson as leader of the Conservative party and Britain's prime minister, is campaigning hard to win over the Tory faithful who will vote from today, July 28, to August 31 to elect their next leader.
Several observers have questioned the weakness in execution of the 3.0 strategy.
What is perhaps most fascinating is that Infosys was not the first large Indian IT company to raise its head, nor has it been the largest; but it has often shown a remarkable ability to market itself so that it has punched above its weight.
Proxy advisory firms say the praise on Twitter was uncalled for.
The report, published by brokerage firm Ambit Capital Research, also says the promoters hold disproportionately high board representation with respect to their total shareholding in the Bengaluru-based company.
The panel's report could be considered while framing the final document for the 12th five-year Plan.
Chandrashekar Kakal was operational head of the India business unit.
The company might hire a foreigner chief executive officer for the first time.
Infosys chief N.R. Narayana Murthy has said the company is looking at reducing the number of top officials and subcontractors at onsite locations in a bid to reduce operational costs, according to Barclays.
Despite a shrinking market share and declining profitability, Murthy's return helped Infosys get a double thumbs-up from investors.
The Union ministry of corporate affairs (MCA) has informed Infosys that the appointment of Rohan Murty, son of co-founder and executive chairman N R Narayana Murthy, does not require its approval.
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.
Infosys has has the highest proportion of non-independent directors on its board.
Some media reports stated that Rohan has been designated as a vice president, which is a relatively senior position in the company.
Senior exits and across the board attrition have started affecting the company's ability to grow business
According to sources privy to the development, Murthy has chosen a team of four senior executives -- former Infosys India business unit head Binod Hampapur Rangadore, Ranganath D Mavinakere, Deepak Padki and Rohan Murty.
Of the, four are co-founders of Infosys.
Global recovery and internal shake-up at Infosys have worked in tandem.
About 24 mn shares of Infosys worth Rs 575 cr were traded on both the exchanges on Friday compared to a three-month daily average of 14.5 mn shares worth about Rs 365 cr.
India's corporate sector sees big ticket deals in 2013.
Without panning Narayana Murthy's credentials, executives in many of these firms feel they are not sure about company's future.
Murthy on Saturday said the nation's second largest IT services firm had "diluted focus on meritocracy and accountability" in the past decade, forcing him to take "hard and tough decisions."
This is the first time, perhaps, Infosys has appointed as CEO a person who has never managed P&L or has any experience in managing lakhs of employees.
Sikka will take over from current Chief Executive SD Shibulal, one of the engineers who founded Infosys, on August 1.
Monday's notices seek damages of Rs 2,000 crore (Rs 20 billion) each from The Times of India and The Economic Times, both owned by Bennett, Coleman & Co, and The Financial Express, owned by the Indian Express group, alleging some of their articles defamed Infosys.
No impact of exits on client engagements, says company.
Under a year of him as executive chairman, Infosys, has had "stellar" performance, N R Narayana Murthy said of his second innings at the top in an email to employees.
Infosys on Friday posted healthy growth in earnings for July-September 2013, and raised the lower end of its FY14 revenue guidance, indicating the company had regained its momentum.
Recently, some software firms formed a separate body called the Indian Software Product Industry Round Table, or iSpirt.
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