IT industry seeks clarity on tax provisions for BPO/KPO services, quashing of angel tax

IT industry body Nasscom has urged the government to clarify tax provisions that treat BPO-KPO services as intermediaries under GST rules, and scrap angel tax levied on investments in startups. Expressing concerns over rising instances of revenue authorities treating IT-enabled services, including BPOs and KPOs, as ‘intermediary services’, Nasscom Senior Director and Public Policy Head […]

AION Capital acquires BPO firm Interglobe Technologies

AION Capital, a joint venture between ICICI Venture and Apollo Global Management has acquired back-end services unit of Indigo airline, Interglobe Technologies (IGT), for an undisclosed amount. AION Capital has a committed capital of USD 825 million, according to a statement. Its website says its objective is to invest in stressed, distressed and special credit […]

Apple, JP Morgan, others fear ‘harm’ from Donald Trump’s H-1B visa policy

Dozens of top US business leaders including Apple Inc.’s Tim Cook, JPMorgan Chase & Co.’s Jamie Dimon and Pepsico Inc.’s Indra Nooyi signed a letter expressing “serious concerns” about the Trump administration’s immigration policy changes and their potential to undermine economic growth. The letter focused on recent changes in the area of high-skilled immigration. The […]

H-4 visa on hold till rulemaking process is complete: US immigration

No decision about H-4 visas is final until the rulemaking process is completed, a senior US official has said, days after over 100 lawmakers urged the Trump administration to continue granting work authorisation to certain dependent spouses of non-immigrant workers holding H-1B visas, the most sought-after among Indian IT professionals. The Trump administration is planning […]

BPO firm [24] says it was breached; Sears and Delta Airlines affected

Business process outsourcing company [24] said it had discovered a hack that potentially affected online customer payment information of a small number of its clients. Customers such as Sears and Delta Airlines announced that their data had been affected in the hack. “The incident began on Sept. 26, and was discovered and contained on Oct. […]