Infosys, India’s second largest IT services company, has started the fiscal 2024-25 performance bonus pay-outs for eligible employees, with an average of 80% for the first quarter that concluded on June 30. This move is expected to boost the morale of a significant portion of the technology workforce.The average percentage mentioned pertains to the bonus…
Infosys, a major player in the IT services industry, has introduced a ‘power programme’ as part of its campus placement drive, offering packages of up to Rs 9 lakh per annum to select colleges, according to two sources familiar with the development. This is a significant increase from the company’s standard entry-level fresher pay packages,…
Infosys GST notice update: The Indian government has no plans to ease the Rs 32,000 crore ($4 billion) tax demand it issued to Infosys, a government source revealed to Reuters. The tax demand, which aligns with the country’s good and services tax regulations, was sent to the IT services company, which ranks as the second-largest…
A ransomware attack, attributed to the RansomEXX group, hit the National Payments Corporation of India (NPCI) and the connectivity was restored. The Karnataka state tax authorities issued a Rs 32,403 crore GST demand notice to Infosys but withdrew it. Meanwhile, Apple set a new quarterly revenue record in India, new rules for FASTag came into…
BENGALURU: India’s second-largest IT services company Infosys has received a goods and services tax demand of 324.03 billion rupees ($3.87 billion) from an Indian tax authority, a document viewed by Reuters showed. The tax demand relates to services availed by the IT services conglomerate from its overseas branches for five years starting 2017. Infosys did…
BENGALURU: Infosys has won an over $100 million (Rs 850 crore) deal from Swedish retailer Ikea, outpacing incumbents HCL, Capgemini and DXC, and other regional players. About 350 roles at Ikea will be impacted across China, France, Germany, India, Poland, Sweden, and the US, and these employees will transition to Infosys. “It has been a…
The top Indian IT outsourcing companies have experienced a significant reduction in their bench strength within a short period. However, this may not necessarily be a negative development for these global services leaders. By leveraging higher utilization rates and generative artificial intelligence (GenAI), they are able to drive efficiencies throughout their talent hierarchy as the…
Infosys founder NR Narayana Murthy wants to be remembered as a fair man. “One of the things I learnt early as a leader is that you have to take tough, unpleasant decisions. However, the most important thing is to be fair in every transaction,” Murthy told ET in a recent interview.In 1981, NR Narayana Murthy…
NR Narayana Murthy and S ‘Kris’ Gopalakrishnan, the founder and co-founder of Infosys respectively, have urged the incoming government in New Delhi to implement policies that foster entrepreneurship, leading to job creation, wealth generation, and increased tax revenue. With less than a month remaining before the new government takes charge, they have emphasized the importance…
IT services major Infosys said that the Odisha GST authority has imposed a penalty of Rs 1.46 lakh on the company. The penalty has been imposed on Infosys for availing ineligible input tax credit.Infosys announced the same in an exchange filing. The company said that it received the order on April 22, 2024, passed by…
