Once the Undisclosed Foreign Income and Assets (Imposition of Tax) Bill (black money Bill in popular parlance) is implemented, income tax assessees will not only have to disclose their foreign assets and accounts but also the beneficial owners or nominees of these. This will help the government track those stashing unaccounted money abroad.

"For this, income declaration forms will have a separate column for details of foreign assets, accounts and the beneficial owner or nominee," said a senior official.

As Wipro prepares to plunge into the ‘digital’ area, the company is pursuing an active acquisition strategy in this segment to supplement what it is trying to build organically.

The Bengaluru-based multinational, the country's third largest information technology (IT) services company, has launched an independent business unit called Wipro Digital. It is looking at acquiring companies in areas such as 'design competency' and 'process utility' to expand its bouquet of services in the digital space.

In his 50 years of service and leadership in one company, A M Naik has a formidable collection of laurels. There has been no dearth of compliments. However, the executive chairman of Larsen & Toubro (L&T) would surely treasure this as one of his biggest awards – about 3,000 employees of the engineering and construction conglomerate came together to celebrate Naik’s 50 years of service at the company’s Powai campus here on Monday.

Naik completed his 50th year in the company on March 15, but the celebrations were delayed as the man himself was in Kuwait, to do what he loves best – work.

State Bank of India (SBI) is planning to focus more on auto loans as the sector is expecting better growth.

Speaking to reporters after announcing the bank's special finance scheme for Ola driver entrepreneurs in Chennai on Monday, PS Prakash Rao, chief general manager, SBI, said that the auto sector was expected to report a healthy growth this year.

GMR Infra today said its parent company GMR Holding has completed financing arrangements for its rights issue and has tied up Rs 1,250 crore to fund it.

"GMR Holdings Private Limited has secured funding of Rs 1,250 crore from KKR Capital Markets India Private Limited and its co-investors and definitive documents in this regard have already been executed, GMR Infrastructure said in a filing to the BSE.

Bengaluru: Wipro Ltd has chosen a new leader for its digital business as it looks to make it one of the three largest service lines for the company in three years.

India’s third largest software services exporter has named Rajan Kohli, currently head of banking and financial services business at the company, as the head of Wipro Digital, the year-old business unit, according to two people familiar with the development.

Bengaluru: Infosys Ltd will outline some of the quantifiable outcome metrics to reflect the progress of the strategy of “new and renew” it has embraced under its new chief executive (CEO) Vishal Sikka, when the company declares its quarterly earnings on 24 April.

The Bengaluru-based company intends to share new metrics, including the percentage of Infosys’ customers who are using its new offerings such as open source technology platform, called Infosys Intelligent Platform (IIP), and artificial intelligence-led technology platforms, according to a senior executive.

The benchmark BSE Sensex recovered over 108 points in early trade on Monday on buying at prevailing lower levels by investors amidst a firming trend at other Asian markets.

The 30- share index, which had lost 475.30 points in previous three sessions, rose by 108.64 points, or 0.38 per cent, to 28,369.72 with all sectoral indices, led by power, healthcare, oil & gas and capital goods, trading in positive zone with gains up to 0.68 per cent.

Ten months after the NDA alliance led by Narendra Modi took charge in May 2014, the government is yet to resolve the bottlenecks involving stalled projects. Latest figures compiled by the Ministry of Finance in March 2015 indicate that 299 mega projects involving an outlay of Rs 18.13 lakh crore still remain stalled with the Project Management Group (PMG).

MUMBAI: Chinese carmaker Geely-owned Swedish luxury car brand Volvo is set to enter the compact luxury car race in India and challenge the German rivals Mercedes Benz, Audi and BMW with two new offerings in the sub-Rs 30 lakh bracket.

A small luxury hatchback V40 diesel and V40 Cross Country with 1.6 litre petrol engine will be launched in the coming few months as the Scandinavian carmaker targets 65% growth in India in 2015 to touch the 2,000-units mark in annual sales.

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