ITC and TCS among top dividend-paying stocks in Asia Pacific: CLSA
Most retail investors when buying stocks focus more on capital appreciation than the potential of sustained dividend. That is why they should pay special attention to brokerage CLSA’s latest edition of Bits and Pieces
The tax on credit card usage abroad that will kick in from next month has a dubious, amusing past
The Indian government's 20% tax on overseas credit card usage above INR7 lakh ($9,500) annually is designed to appear as though it is taxing those with the greatest ability to pay. Historically, this type of measure has been used to extract funds from the rich and wealthy, such as the levying of a hat tax in 18th-century Britain. However, it is unclear if consumption patterns indicate preferences and affluence. Tactically, such taxes have raised the ire of taxpayers, leading to evasion schemes or alternative avenues of spending outside the tax authority's reach.
TCS will continue to bet on Cloud, cybersecurity, Gen AI: new CEO K Krithivasan
Tata Consultancy Services' new chief K Krithivasan, in his first mail to employees after assuming office, gave a sneak peek into the company's future bets while also recounting some of his positive experiences during his 34-year journey at the company.
Sending money abroad for education? Pay 20% TCS from July 1 if you don't do this
The new rates of Tax Collection at Source (TCS) will kick in from July 1, 2023. Let's understand how the new TCS rule will impact students who are already studying in foreign universities and schools or are planning to study abroad soon.
The Central Board of Direct Taxes (CBDT) in India has launched an "e-appeal" scheme designed to reduce the pendency of appeals relating to tax deducted at source (TDS) default issues and tax collection at source (TCS). The scheme allows the Joint Commissioner (Appeals) to dispose of appeals filed before it, with the power to send show cause notices and initiate penalties.
Outgoing TCS CEO Rajesh Gopinathan reflects on changes & transformations in farewell note
Gopinathan, who steps down on May 31 thanked colleagues for their support in a letter dated May 29. He added that the focus on operational rigour and strategic transformation has helped the company grow its revenue from $17.5 billion in March 2017 to $27.9 billion in March 2023 with market capitalisation growing from $74 billion to $143 billion during the same time.
Top four IT companies log 40% drop in large client additions in FY23
Top four IT majors, Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro, added 80 large clients which are classified as deals in the $10 million to $100 million range in the fiscal ending 2023 versus 132 clients in FY22, according to ETs analysis.
20% TCS could support Indian hotel industry; Lemon Tree, Indian Hotels top buys
India's travel and hospitality industry has seen robust growth over the past few years, thanks to government initiatives and a change in people's outlook toward travel spending brought on by the pandemic. There is still huge potential for growth in India's hospitality industry, with low penetration in the country. The development of Vande Bharat trains is expected to boost the industry further by improving connectivity, and management contracts, franchise models, and revenue-sharing models are being explored to capture the impending growth opportunity. Meanwhile, Lemon Tree and Indian Hotels are expected to see significant revenue growth over the next few years.