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Wipro is expected to report its 4th straight quarter of declining revenue while margin too may be under pressure after wage hikes..meanwhile HCL Tech is likey to report the highest growth amongst peers with an expected sequential revenue growth of 4%.Stacy Pereira speaks with Omkar Tanksale - Senior Research Analyst - I.T., Axis Securities to get a perspective on overall I.T. sector Q3 earnings
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Benchmark indices ended higher for the second consecutive session on November 16 with Nifty around 19,750.At close, the Sensex was up 306.55 points or 0.47 percent at 65,982.48, and the Nifty was up 89.70 points or 0.46 percent at 19,765.20. About 1964 shares advanced, 1665 shares declined, and 109 shares unchanged.Major gainers on the Nifty were Hero MotoCorp, Tech Mahindra, TCS, HCL Technologies and Infosys, while losers were Axis Bank, Coal India, Power Grid Corporation, Tata Consumer Products and Adani Enterprises.Among sectors, information technology index gained nearly 3 percent, while realty, oil & gas and auto up 1 percent each.BSE Midcap and Smallcap indices added 1 percent each.Watch Yatin Mota live on Bajar Gupshup to know more.
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Indian equity markets remain range-bound with positive bias .
Investors look forward to results from the rest of sectors for further guidance after two IT companies - Infosys and HCL Tech cut their guidance.
Moneycontrol’s Nickey Mirchandani (@onlynickey) in discussion with Sushil Kedia, Founder, Kedianomics, Gaurang Shah, Senior Vice President, Geojit Financial Services
Catch the entire Q2 IT earning discussion with CHandra R Srikant, Editor- Technology, Startup and New Economy
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More details are awaited, but Metropolis stock plunged over 5%
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The search covered more than 20 premises in Gujarat, Silvassa and Mumbai, and the group’s unaccounted income is likely to be more than Rs 100 crore
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The authority’s continued probe into Sonu Sood comes after it launched action against the 48-year-old actor and some people linked to him on September 15.
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The government has extended timelines of certain compliances, to mitigate the difficulties faced by taxpayers due to the ongoing COVID-19 pandemic, a circular from the CBDT said.
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I-T Department, SEBI also involved in the probe. Syndicate of share brokers and entry operators said to be behind these dealings. I-T Dept searches 22 brokerage houses in major cities. West Bengal said to be the hub. Department submits an initial report to SEBI for further investigations
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Sources said work has already begun on implementing the changes in the next few months itself.
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Sales value of the unreported transactions was computed at Rs 99,000 crore, while value of the under-reported transactions exceed Rs 4 lakh crore
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Searches were conducted in Kolkata, Mumbai, Hyderabad, Delhi, Ahmedabad and Jaipur after the I-T intelligence and criminal cell detected illiquid option trades
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Corporate tax collection during 2018-19 totalled Rs 662,748 crore while income tax amounted to Rs 442,170 crore. STT collection was 11,527 crores, latest data until April 1 showed.
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The value of assets seized during the past two financial year is Rs 1,469.62 crore in 2016-17 and Rs 992.52 crore in 2017-18.
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The export of software services excluding the one through commercial presence was $ 88 billion in 2015-16
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Admitting that Aadhaar was a "great initiative" of the previous UPA government, Finance Minister Arun Jaitley today said it was being expanded by making it mandatory for direct benefit transfer of subsidy and checking of tax evasion.
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According to officials, the declarants want more time to submit the money they declared under the scheme.
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Under 'Operation Clean Money', the I-T department had sent SMS and e-mails to 18 lakh people, who according to its data analysis had made suspicious deposits of over Rs 5 lakh during the 50-day window provided to get rid of old 500 and 1,000 rupee notes following the demonetisation decision announced on November 8.
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The tax department said the levy of long-term capital gains tax on share transfer in unlisted companies is an anti-abuse measure.
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After the government banned high value notes on November 8, some individuals got rid of their undisclosed income by repaying long pending dues to government agencies, banks and NBFCs.
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ED has informed the I-T
department and shared relevant documents with regard to its
detection of cash deposits totalling over Rs 104 crore in an
account of the BSP and another Rs 1.43 crore in an account
belonging to Mayawati's brother Anand in a bank branch here.
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Income Tax officials today claimed
that former Tamil Nadu Chief Secretary P Rama Mohana Rao's son
has "admitted to a total unaccounted income of about Rs 17
crore", a day after I-T raids were carried out at the top
bureaucrat's house, office and other premises linked to his
kin in connection with a tax evasion probe.
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The income tax (I-T) department has directed airlines to submit transaction details including names of passengers for the period November 8 to December 2, reports CNBC-TV18.
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Soon after the ban was announced, many people rushed to buy bullion and jewellery to dispose their Rs 500 and Rs 1000 notes. Jewellery stores in leading gold markets of Delhi, Mumbai and Ahmedabad are said to have done brisk business till the early hours of Wednesday.
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British telecom major Vodafone has approached the Indian government for a conciliation in its Rs 20,000-crore tax dispute
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The Income Tax department has launched a e-filing link on its official website for declaring illegal foreign assets and black money using the one-time compliance window notified recently by government.
