Azim Premji

Wicamp

I'am sure you all must be wondering what's wi in the Wicamp, I'll walk you through the Wicamp, that happened yesterday. Wicamp - actually meaning We-camp, and also Wi- Wipro Innovation Camp was an unconference where most of the minds congregated to discuss, share, understand about Innovation.

New Delhi: A looming threat before the Indian IT industry now is employees' hefty pay packets that could cut down the companies' profit margins.Country's two largest software exporters, Infosys Technologies and Wipro Technologies, think wage pressures might slash their margins and dent their competitive advantage.

Million-dollar pay cheques no longer raise eyebrows in the Indian IT industry. Given the huge demand for high quality professionals, some top-notch companies are willing to pay the big bucks.

Six employees of Infosys Technologies posted overseas earn $1 million annually, perhaps making the company the highest paymaster in the Indian IT industry.

According to sources, these six employees are neither part of the founding team and nor are they board members. In fact, they are business heads of the company’s different verticals.

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India's export-oriented enterprises such as in the thriving software outsourcing industry were brought back under the tax net in the annual federal budget unveiled on Wednesday. Finance Minister Palaniappan Chidambaram proposed to extend minimum alternate tax (MAT) to firms claiming deductions under sections 10A and 10B of the Income Tax Act.

Now, they must pay the minimum tax, still lower than a full-fledged corporate income tax, practically seeing an end to their tax holiday status conferred years ago.

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