Skip to content
Search

Latest Stories

India's finance minister summons Infosys chief executive over tax portal glitches

WITH India’s new income tax portal continuing to face technical glitches, finance minister Nirmala Sitharaman summoned Infosys Ltd chief executive Salil Parekh on Monday (23) to explain the issues in an online tax portal developed by the company, the income tax department said on Sunday (22).

The department, an arm of India's ministry of finance, said in a tweet that Parekh would be asked to explain why after two-and-half months since the launch of the new e-filing portal, glitches have not been resolved.


"Since 21/08/2021, the portal itself is not available," the department said in a tweet.

A message has also been put on the website that reads "Portal is going through a maintenance. Inconvenience caused is regretted."

The new tax portal developed by the Bengaluru-based software major was launched on June 7 and, within hours, started to face issues such as the inability to generate OTP for Aadhaar validation, failure to link old data for past returns, and problems in filing returns.

After the income tax department’s tweet on Sunday (22), Infosys India Busines, the Twitter handle of Infosys India Business unit tweeted, “The @IncomeTaxIndia portal continues to be under emergency maintenance. We will post an update once the portal is available again for taxpayers. We regret the inconvenience.”

More For You

Shein-Reuters

Shein had aimed to go public in London in the first half of this year, subject to regulatory approvals in the UK and China. (Photo: Reuters)

Shein cuts valuation to £40 billion for London listing

SHEIN is preparing to lower its valuation to around £40 billion for a potential initial public offering (IPO) in London, according to three Reuters sources familiar with the matter.

This is nearly 25 per cent lower than the company's 2023 fundraising valuation as it faces increasing challenges.

Keep ReadingShow less
Northern-Superchargers-Getty

Ben Stokes and Matthew Short of Northern Superchargers walk out to bat during The Hundred match between Manchester Originals and Northern Superchargers on August 11, 2024 in Manchester, England. (Photo: Getty Images)

Sunrisers Hyderabad to acquire Northern Superchargers in £100 million deal

INDIAN Premier League franchise Sunrisers Hyderabad is set to become the first full owners of an English Hundred team after agreeing to buy Yorkshire’s Northern Superchargers for a reported £100 million.

The Sun Group will be the third IPL-linked investor in the eight-team Hundred competition, following Reliance Industries, which owns Mumbai Indians, and RPSG, which runs Lucknow Super Giants.

Keep ReadingShow less
BT-Getty

A view of the British Telecom (BT) headquarters in central London. (Photo: Getty Images)

BT to remove diversity targets from manager bonuses

BT will remove diversity, equity, and inclusion (DEI) targets from its manager bonus scheme, replacing them with a measure of overall employee engagement.

The change, set to take effect in April, follows consultation with major investors and has received “strong support,” according to the company, The Telegraph reported.

Keep ReadingShow less
India's central bank cuts interest rates for first time since 2020

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.. (Photo credit: Reuters)

India's central bank cuts interest rates for first time since 2020

THE RESERVE BANK OF INDIA (RBI) reduced interest rates on Friday for the first time in nearly five years, citing concerns over economic growth despite inflation risks.

The central bank announced a 25-basis-point cut in the benchmark repo rate to 6.25 per cent, the rate at which it lends to commercial banks.

Keep ReadingShow less
Sri Lanka seeks to negotiate with Adani over renewable energy plants

Gautam Adani

Sri Lanka seeks to negotiate with Adani over renewable energy plants

SRI LANKA’S government started talks with India’s Adani Group to lower the cost of power from two wind power projects the group will build in the island nation’s northern province, the cabinet spokesman said last Tuesday (28).

Sri Lanka has been reviewing the group’s local projects after US authorities in November accused billionaire founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. Adani has denied the allegations.

Keep ReadingShow less