Now Government targets TCS for bodyshopping tax
Monday, 4th July 2011
It's now the turn of India's largest software company to spell out its stand on a tricky point that tax authorities have been raking up.
After Infosys and Wipro, the Income-Tax Department has initiated scrutiny on Tata Consultancy Services (TCS) for claiming tax benefits for onshore services, often derogatorily called 'body shopping'. Onshore software services account for close to 45% of TCS' $8-billion revenues.
Publication : Business Standard