NASSCOM

As per National Association of Software and Services Companies (NASSCOM), there was a marked slowdown in recruitment in Financial Year (FY) 2009-10 specifically and also towards end of FY 2008-09 due to recession in developed economies. The data relating to employment level (directly employed by the IT/ITES industry) in this industry and the incremental job addition for the last three years in as under: Full Article

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has recently pronounced its ruling on an appeal originating from a transfer pricing adjustment imposed on 3 Global Services Private Limited (“assessee”). The assessee operates in the voice based customer care segment within the IT-enabled services (ITeS) industry. During financial year 2003-04, the assessee rendered services to its associated enterprises (“AEs”). Full Article

Come 2014, the US will align its accounting practices with the International Financial Reporting Standards (IFRS) – a system of harmonised standards recommended by the International Accounting Standards Board, an independent body of the International Accounting Standards Committee Foundation. Full Article

Government of India has initiated collaborative process of formulation of Open Standards for e-Governance in India with the objective of enabling seamless interoperability of various e-governance solutions developed by multiple agencies, and to promote technology choice and avoid vendor lock-in, Full Article