Tech Mahindra sees bigger business from Vodafone-Idea merger

The software firm derives over half of its revenue from servicing communication companies

Sees the proposed merger of Vodafone and Idea as a “seismic” event that will impact the IT sector, but asserted that it will benefit from such a deal.

The software firm derives over half of its revenue from servicing communication companies.

“I do project work for both the companies, and I don’t do the main or traditional IT work. Since I am working more on change and customer experience management, my pie should grow,” Gurnani said.

10 Steps To File Your Income Tax Return Online

If your income is above Rs 5 lakh, you have to file income tax return online. The last date of filing income tax return is generally July 31 of every year. You still have a lot of time so why keep it for the last moment. Follow these easy steps and e-file your income tax return. Here is a 10-point guide.

1) To e-file your income tax return, you will have to register yourself on tax department’s website using your personal details. Your permanent account number (PAN) will be your user id.

2) There are two ways of e-filing your income tax return. First, you can go to the download section and select the requisite form, save it on your desktop and fill all the details. Click on the generate XML. Then go to the website again and click on the upload XML button. You will have to first log into to upload the XML file saved on your desktop and click on submit.

3) You can go to the Quick e-file section of the website. Log in and select the form and the assessment year for which you are filing return and fill in all the details.

4) You have to select the forms on the basis of the source of your income. In case of individual with salary or pension income or income from one house property or income from other sources excluding lottery, you have to select form ITR-1, also known as SAHAJ. If you have capital gains, you will have to file ITR-2.

5) You will have to keep a few documents such as your PAN number, Form 16, your interest statement, tax deducted at source (TDS) details and investments proofs handy while e-filing your income tax return.


6) From this year an additional column has been added called “AL” in which you will have to disclose the value of your asset and liabilities at the end of the year, in case your income for the year is more than Rs 50 lakh.

7) You can also download your Form 26AS, which is your consolidated tax statement summarizing tax paid against your PAN. You can validate your tax return with Form 26AS to check you tax liability.

8) On submitting the form, an acknowledgement number is generated in case the return is submitted using digital signature. If the return is submitted without a digital signature, then an ITR-V is generated and is sent to your registered email id. ITR-V is an acknowledgement that your return has been submitted.

9) You will have to send the signed ITR-V to the centralized processing center at Bengaluru within 120 days of filing the return to complete the tax filing process.

10) You can also e-verify (don’t have to send the ITR-V to Bengaluru office) your return through electronic verification by using the e-verify return option on the website. You can also use net banking, Aadhaar-based one-time password to e-verify it.




7th Pay Commission: All you need to know about benefits, implications

The Cabinet is likely to clear the Seventh Pay Commission report and its recommendations today (Wednesday), say media reports.
1) The recommendations

The Pay Commission recommended 23.55 percent overall increase in salaries, allowances and pension.

The panel recommended a 14.27 percent increase in basic pay, the lowest in 70 years. (The 6th Pay Commission recommended 20 percent hike.

The minimum pay in government is recommended to be set at Rs 18,000 per month.

Of the total financial impact of Rs 1,02,100 crore, the increase in pay would be Rs 39,100 crore, increase in allowances Rs 29,300 crore and increase in pension Rs 33,700 crore.

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2) Implications for economy

The Pay Commission recommendations, once implemented, are expected to boost the consumption demand, and in turn growth.

Above all, a PTI report said citing sources that the secretaries’ panel may have recommended higher pay increase, with minimum entry level pay at Rs 23,500 a month and maximum salary of Rs 3.25 lakh.