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Tata Consultancy Services

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years.

Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India’s largest multinational business group, TCS has over 601,000 of the world’s best-trained consultants in 54 countries. The company generated consolidated revenues of US$29.1 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India.

TCS’ proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index.

Business Highlights

• Announced a 15-year expansion of its partnership with Aviva, the UK’s leading insurance, wealth, and retirement provider, to transform Aviva’s UK life business and enhance customer experience leveraging the TCS BaNCS™ platform. As part of this, the end-to-end policy administration and servicing will expand to cover over 5.5 million policies.
• Announced a final dividend of Rs 28 per share, taking the total dividend for the year to Rs 73 per share. The company also completed its fifth successful buyback returning Rs 17,000 crore to shareholders, wherein the buyback process was completed in record time of 63 days. The total shareholder payout for the year was Rs 47,445 crore.
• Recognized as a Global Top Employer by the Top Employers Institute for the ninth consecutive year, for TCS’ pioneering employee engagement and talent development initiatives. TCS was also named a top employer in 32 countries and regions, including Europe, the UK, the Middle East, North America, Latin America, and South-East Asia.
• Ranked the #1 IT service provider for customer satisfaction in Europe in an independent survey of over 2,000 CXOs of the continent’s top IT spenders by Whitelane Research, for the 11th consecutive time. The study also revealed that TCS demonstrated an ‘exceptional’ level of performance across five key IT domains: Digital Transformation, Workplace Services, Security Services, Application Services and Cloud Services, where TCS scored more than 80%, and maintained a healthy lead compared to industry average scores.
• Launched an AI Experience Zone to foster hands-on proficiency in AI and GenAI for its employees. Within this immersive environment, TCS employees can explore, engage, and experiment with cutting-edge GenAI-powered applications, creating innovative use cases, with all necessary guardrails and while upholding Responsible AI principles
• Ranked the second most valuable IT services brand (brand value up 11.5% to US$19.2 billion) by Brand Finance, with the incremental US$2 billion growth being the highest absolute growth posted among the Top 25 leading IT firms in the world.
• Enabled Europe’s most modern post-trade platform with Euroclear Finland, the national central securities depository of Finland, to integrate its core platform with the European securities settlement engine. This transformation program ensures easier cross-border settlements for investors in Finnish securities, attract more investment into the country, improve access to capital for Finnish issuers and reduce cross-border settlement risks and costs for investors.
• Sponsored 13 running events through the year, including the TCS New York City Marathon, TCS Amsterdam Marathon, TCS London Marathon, TCS Toronto Waterfront Marathon and TCS Lidingöloppet, where total distance covered by the runners crossed more than 80 million miles
• Partnered with Macquarie University to launch the TCS GoZero Hub, a research and innovation center to guide Australian organizations in their journeys towards net zero carbon emissions. Aligning with the central themes of COP28, this hub will focus on five core themes – energy transition, carbon management, nature positive future, circular economy and sustainable waste management, and climate adaptation and resilience – and how to limit and prepare for future climate change. The TCS GoZero Hub will also support education pathways, providing relevant skills and knowledge to prepare students for successful, future-focused careers.
• Selected by ASX, Australia’s primary securities exchange to provide a next generation clearing and settlement platform to service the Australian market. TCS will leverage its flagship product TCS BaNCS for Market Infrastructure to enable the transformation, replacing ASX’s existing platform for cash equities clearing and settlement.
• Partnered with The Munch Museum in Oslo, to create immersive and interactive drawing experiences for local visitors and global audiences. Scientists from TCS Research will leverage their expertise in AI and Machine Learning to bring Edvard Munch’s artworks and creative process to life through the power of digital innovation. TCS will also provide IT consultancy, collaborative workshops, and talent exchanges to help create immersive museum experiences that showcase the future of art.
• Signed a multi-year partnership with ASDA in a divestiture and digital transformation deal, to help implement a new organization-wide IT operating model, following its divestiture from Walmart. The strategic partnership will leverage TCS’ cloud, AI, and security solutions to help ASDA deliver the divestiture smoothly, on-time and securely, in addition to further enabling ASDA in enhancing its customer experience and innovation capabilities to help increase their market share and retain price leadership.
• Selected by TPG Telecom, Australia’s leading telecommunications company, as a strategic technology transformation partner, to simplify and streamline internal systems and platforms, enhance customer journeys and products, and increase digitisation. This will help TPG Telecom become Australia’s best digital telco by delivering great value connectivity services to end customers.
• Partnered with SIX, the operator of the Swiss and Spanish financial market infrastructures, to transform its post trade market infrastructure, which offers greater flexibility, security, and ease of maintenance and its modern, cloud-ready architecture can also integrate more easily with digital ecosystems, opening-up possibilities of innovative new products and services. The program is more scalable and currently processes more than 4 million transactions per day, covering more than 60 global markets.
• Selected by BSNL, state-owned telecom operator of Government of India, to roll out a modern 4G/5G mobile communication infrastructure across India covering 100K telecom sites, as part of its efforts to build indigenous telecom technology and local manufacturing of the telecom gear. Partnered with JLR, a large UK based multinational automobile company, to accelerate digital transformation across its business, TCS will deliver a broad range of services spanning application development & maintenance, enterprise infrastructure management, cloud migration, cybersecurity, and data services.
• TCS will help JLR transform to a leaner and scalable operating model with a future-ready digital core, by leveraging new technologies to transform IT operations and adopting new ways of working.
• Choosen by British Council, the UK’s international organization for educational opportunities and cultural relations, to transform its professional services function that includes Finance, Procurement, Human Resources and Digital & Technology. TCS will leverage its contextual knowledge, deep domain expertise and proprietary platforms to help develop more innovative and user-friendly services. The partnership will also enable the British Council to focus on improving the quality and efficiency of services, ultimately leading to an enhanced customer experience.
• Selected as a strategic partner by the Government of India to transform the Government e-Marketplace (GeM) platform, into a world-class platform. The project will enable growth and scale, improve inclusivity for MSME enterprises, enhance data analytics for improved supply-chain operations and provide enriched user experience through innovation and domain expertise of TCS.
• Partnered with Dassault Systèmes through its Living Heart Project that unites an ecosystem of cardiovascular researchers, educators, medical device developers, regulatory agencies including US FDA, and practicing cardiologists, to develop and validate realistic digital simulations of the human heart. The TCS Bio Digital Twin is a biophysics-based high-fidelity computational model developed by TCS’ researchers, to enable investigation of the function of a particular human organ remotely and non-invasively.
• Created the first-ever digital heart of long-distance runner, two-time Olympian, and Boston Marathon champion Des Linden. The twin will help see, measure, and monitor the heart going through significant stress—and predict with high accuracy how it will perform, to transform how the athlete trains.
• Selected by Nest, UK’s largest workplace pension scheme, to digitally transform its scheme administration services with a future-ready, digitally enabled, omnichannel platform powered by TCS BaNCS™. TCS will leverage the latest technologies and data analytics to deliver enhanced, personalized, and self-directed experiences to members. This will enable Nest’s 12 million members and 1 million employers to access the right information at the right time, in the way that suits them best.
• Awarded a 10-year contract by the UK’s Department for Education (DfE) to manage the scheme administration services and further enhance customer experiences for the Teachers’ Pension Scheme in England and Wales. TCS’ future-ready, digitally enabled, omnichannel platform, powered by TCS BaNCS™, will enable accurate administration of pension records, payment of benefits, effective scheme finance management, proactive member engagement and easy access to information.
• Engaged by Standard Life International DAC, a wholly owned subsidiary of the Phoenix Group, to transform its operating model and enhance the customer experience for its policyholders in Europe, using the TCS Digital Platform for Life and Pensions, powered by TCS BaNCS. TCS will set up a customer operations center in Germany, and a future-ready Life and Pensions Digital Platform for Germany and Austria. As part of the transformation, TCS will create comprehensive, omnichannel, journey-based digital experiences for policyholders and advisors.
• Celebrated 20 years in Mexico by inaugurating a new office in Monterrey, becoming TCS’ ninth office in the country overall, with a state-of-the-art building which is one of the tallest in the cities. TCS serves more than 250 clients out of these centers.

Financial Highlights FY24 (Consolidated)

Source: TCS Investor website

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Tata Consultancy Services added just 7* customers in FY21 ... and 40,000 staff as revenue, profit flattened

It giant is learning to live with repeated sprints rather than mega-deals.

Updated Tata Consultancy Services won just seven new customers* in its fiscal 2021, and went backwards on revenue and profit.

The company’s Q4 and full FY 2021 results, released Monday , revealed annual revenue of $22.174bn, a 0.7 per cent jump from FY 2020’s $22.031bn but a 0.8 per cent dip after exchange rates were taken into consideration.

Net income for FY 2021 was $4.513bn, down from the previous year’s $4.541bn.

Q4 2021 offered nicer numbers, with revenue of $5.989bn a 10 per cent year-on-year jump (5.9 per cent in constant currency). Net income of $1.267bn was well up on last year’s Q4 result of $1.096bn.

The company took the unusual step of offering a breakdown of customer numbers and revenue, as follows.

Speaking on the company’s earnings call, execs focused on Q4 growth. CEO and managing director Rajesh Gopinathan said core transformation, cloud migration, and modernization of applications and data were the most in-demand services. The CEO added that TCS sees increased interest in outsourcing as organisations work to create digital experiences, some of them rushing to do so as the COVID-19 pandemic has seen customers acclimatized to doing more business online.

Gopinathan opined that TCS’s application portfolio, and general expertise, is made to meet the moment.

But he also said that the way IT projects are conducted these days makes it hard for TCS to forecast its future.

Asked by Nomura analyst Rishit Parikh to comment on future total customer value metrics, Gopinathan said: “We are in unchartered territory on this currently. So I don’t want to comment on what should be the trajectory forward," adding: "We see the mix changing over time.”

“Many of the transformation programs nowadays get conceptualized as a series of sprints rather than as one single mega program,” the CEO said. While that means TCS can win more smaller deals, it becomes harder to forecast the company's fortunes compared to when it was winning long-term engagements.

Tata says hello to £14.5m 1-year contract extension for UK child support system, while DWP figures out how to procure a new one

Gopinathan was bullish about TCS’s prospects, telling investors its software portfolio, agile toolkits, and understanding of different market segments are all assets in the current environment.

The CEO also pointed to the 40,185 staff hired across the year, bringing total headcount to 488,649, as a sign of strength. Staff attrition in IT services was a record low 7.2 per cent, though CFO V Ramakrishnan tipped that metric to rise slightly in future.

The company’s numbers carried an asterisk regarding legal proceedings – almost certainly the case in which American company Epic Systems claims TCS pinched corporate secrets during an engagement. TCS has disputed that accusation and a $140m penalty handed down by US courts in August 2020. ®

Updated at 16:13 UTC to add

*We are happy to clarify that TCS lost 21 customers last year. They added 28 in the same period, which means that seven customers is the net addition.

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TCS Dress Code: From Formal Shirt To Saree; IT Giant Reveals Style Statement

Curated By : Namit Singh Sengar

Last Updated: October 18, 2023, 16:50 IST

New Delhi, India

TCS associates are required to don business formal attire when representing the organisation in various settings, including business meetings, client visits etc.

Following the conclusion of the work-from-home period, Tata Consultancy Services (TCS) has instructed its employees to comply with the dress code policy.

Tata Consultancy Services (TCS) has discontinued remote work for the majority of its employees, requiring them to be present in the office on a five-day-a-week basis. This shift poses a novel experience for those who commenced their employment during the pandemic, and TCS is actively supporting their integration into the workplace. Reportedly, as part of this effort, TCS has instructed all employees to adhere to the company’s dress code when working from the office.

According to a report by Moneycontrol , in a recent mail to employees, Milind Lakkad, chief human resource officer at TCS, reminded associates to follow the dress code policy.

“This is key to creating the right impact with stakeholders globally. The dress code policy gives clear guidance on the right attire while carrying out official responsibilities and duties,” the email read.

“A large number of our associates have joined us in the last two years and have been working in a virtual or hybrid mode, and it is our responsibility to ensure they are well integrated – working from the office is key to internalise the TCS values and the TCS way,” it said. Moneycontrol reported citing another report.

Here is the dress code policy that all TCS associates are expected to follow as per the email:

Monday to Thursday: Business casuals

• Formal full-sleeved shirts tucked into formal trousers (solid colours, checked, striped shirts, etc)
• Formal skirts or business dresses in neutral/solid colours
• Saree or knee-length kurtas
• Formal shoes, moccasins, flats, heels, pumps, dress sandals

Friday: Smart casuals 

• Casual, half sleeved shirts, collared t-shirts, golf/polo shirts and turtlenecks
• Smart casual trousers, khakis, chinos, straight cut and full-length jeans
• Kurtis, printed blouses and skirts
• Sneakers, moccasins, suede shoes

Formal events and client visits

TCS associates are required to don business formal attire when representing the organisation in various settings, including business meetings, client visits, external forums, town halls, or any special occasion where a specific dress code is stipulated. During these events, employees are expected to adhere to the prescribed dress guidelines;

• Business suits in neutral and solid colours
• Formal full-sleeved shirts tucked into formal trousers
• Formal skirts/business dresses in neutral/solid colours
• Saree or salwar suits
• Formal shoes/Formal footwear in neutral colours

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The A.I. Boom Has an Unlikely Early Winner: Wonky Consultants

Rattled by tech’s latest trend, businesses have turned to advisers at Boston Consulting Group, McKinsey and KPMG for guidance on adopting generative artificial intelligence.

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By Tripp Mickle

Tripp Mickle has been writing about technology since 2016.

After ChatGPT came out in 2022, the marketing team at Reckitt Benckiser, which makes Lysol and Mucinex, was convinced that new artificial intelligence technology could help its business. But the team was uncertain about how, so it turned to Boston Consulting Group for help.

Reckitt’s request was one of hundreds that Boston Consulting Group received last year. It now earns a fifth of its revenue — from zero just two years ago — through work related to artificial intelligence.

“There’s a genuine thirst to figure out what are the implications for their businesses,” said Vladimir Lukic, Boston Consulting Group’s managing director for technology.

The next big boom in tech is a long-awaited gift for wonky consultants. From Boston Consulting Group and McKinsey & Company to IBM and Accenture, sales are growing and hiring is on the rise because companies are in desperate need of technology Sherpas who can help them figure out what generative A.I. means and how it can help their businesses.

While the tech industry is casting about for ways to make money off generative A.I., the consultants have begun cashing in.

IBM, which has 160,000 consultants , has secured more than $1 billion in sales commitments related to generative A.I. for consulting work and its watsonx system, which can be used to build and maintain A.I. models. Accenture , which provides consulting and technology services, booked $300 million in sales last year. About 40 percent of McKinsey’s business this year will be generative A.I. related, and KPMG International, which has a global advisory division, went from making no money a year ago from generative-A.I.-related work to targeting more than $650 million in business opportunities in the United States tied to the technology over the past six months.

The demand for tech-related advice recalls the industry’s dot-com boom. Businesses stampeded consultants with requests for counsel in the 1990s. From 1992 to 2000, sales for Sapient, a digital consulting firm, went from $950,000 to $503 million. Subsequent technology shifts like the migration to mobile and cloud computing were less hurried, said Nigel Vaz, chief executive of the firm, which is now known as Publicis Sapient.

“In the mid-90s, C.E.O.s would say, ‘I don’t know what a website is or what it could do for my business, but I need it,’” Mr. Vaz said. “This is similar. Companies are saying: ‘Don’t tell me what to build. Tell me what you can build.’”

Consulting firms have been scrambling to show what they can do. In May, Boston Consulting Group hosted a one-day conference at a Boston convention center where it set up demonstration booths for OpenAI, Anthropic and other A.I. tech leaders. It also demonstrated some of its own A.I. work in robotics and programming.

Generative A.I. sales are helping the industry find growth after a postpandemic lull. The management consulting industry in the United States is expected to collect $392.2 billion in sales this year, up 2 percent from a year ago, according to IBISWorld , a research firm.

The work that consultants have been enlisted to do varies from business to business. Some consultancies are advising companies on regulatory compliance as regions like the European Union pass laws regulating artificial intelligence . Others are drawing up plans for A.I. customer support systems or developing guardrails to prevent A.I. systems from making errors.

For businesses, the results have been mixed. Generative A.I. is prone to giving people incorrect, irrelevant or nonsensical information, known as hallucinations. It is difficult to ensure that it provides accurate information. It can also be slower to respond than a person, which can confuse customers about whether their questions will be answered.

IBM, which has a $20 billion consulting business, ran into some of those issues on its work with McDonald’s. The companies developed an A.I.-powered voice system to take drive-through orders. But after customers reported that the system made mistakes, like adding nine iced teas to an order instead of the one Diet Coke requested, McDonald’s ended the project .

McDonald’s said it remained committed to a future of digital ordering and would evaluate alternative systems. IBM said it was working with McDonald’s on other projects and was in discussions with other restaurant chains about using its voice-activated A.I.

Other programs from IBM have shown more promise. The company worked with Dun & Bradstreet, a business data provider, to develop a generative A.I. system to analyze and provide advice on selecting suppliers. The tool, called Ask Procurement, will allow employees to conduct detailed searches with specific parameters. For example, it could find memory chip suppliers that are minority owned and automatically create a request for proposals for them.

Gary Kotovets, chief data and analytics officer at Dun & Bradstreet, said his team of 30 people needed IBM’s help to build the system. To reassure customers that the answers that Ask Procurement provides are accurate, he insisted that customers be able to trace every answer to an original source.

“Hallucinations are a real concern and in some cases a perceived concern,” Mr. Kotovets said. “You have to overcome both and convince the client it’s not hallucinating.”

Over seven weeks this year, McKinsey’s A.I. group, QuantumBlack, built a customer service chatbot for ING Bank, with guardrails to prevent it from offering mortgage or investment advice.

Because the viability of the chatbot was uncertain and McKinsey had limited experience with the relatively new technology, the firm did the work as a “joint experiment” under its contract with ING, said Bahadir Yilmaz, chief analytics officer at ING. The bank paid McKinsey for the work, but Mr. Yilmaz said many consultants were willing to do speculative work with generative A.I. without pay because they wanted to demonstrate what they could do with the new technology.

The project has been labor intensive. When ING’s chatbot gave incorrect information during its development, McKinsey and ING had to identify the cause. They traced the problem back to issues like outdated websites, said Rodney Zemmel, a senior partner at McKinsey working on technology.

The chatbot now handles 200 of 5,000 customer inquiries daily. ING has people review every conversation to make sure that the system doesn’t use discriminatory or harmful language or hallucinate.

“The difference between ChatGPT and our chatbot is our chatbot cannot be wrong,” Mr. Yilmaz said. “We have to be safe with the system we’re building, but we’re close.”

Over a four-month period this year, Reckitt worked with Boston Consulting Group to develop an A.I. platform that could create local advertisements in different languages and formats. With the push of a button, the system can turn a commercial about Finish dishwashing detergent from English into Spanish.

Reckitt’s A.I. marketing system, which is being tested, can make developing local ads 30 percent faster, saving the company time and sparing it from some tedious work, said Becky Verano, vice president of global creativity and capabilities at Reckitt.

Because the technology is so new, Ms. Verano said, the team is learning and adjusting its work as new tech companies release updates to the image and language models. She credited Boston Consulting Group with bringing structure to that chaos.

“You’re constantly having to move to the latest trends, to the newest findings, and learning each time how the tools respond,” she said. “There’s not an exact science to it.”

Tripp Mickle reports on Apple and Silicon Valley for The Times and is based in San Francisco. His focus on Apple includes product launches, manufacturing issues and political challenges. He also writes about trends across the tech industry, including layoffs, generative A.I. and robot taxis. More about Tripp Mickle

Explore Our Coverage of Artificial Intelligence

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Apple, Microsoft and Google will need more access to our data as they promote new phones and personal computers that are powered by artificial intelligence. Should we trust them ?

Target is the latest retailer to put an A.I. chatbot in the hands of its workers, with the goal of improving the in-store experience  for employees and shoppers.

Ilya Sutskever, the OpenAI co-founder and chief scientist, has helped found a new A.I. company, Safe Superintelligence, which aims to build A.I. technologies  that are smarter than a human but not dangerous.

The Age of A.I.

The A.I. boom is a long-awaited gift for wonky consultants , as businesses rattled by tech’s latest trend have turned to these advisers for guidance.

A new study showed people real restaurant reviews and ones produced by A.I. They couldn’t tell the difference .

While some big companies are finding uses for A.I., many smaller businesses are just starting to dabble in the technology , if they use it at all.

New Changes in TCS on Overseas Travel Packages

• Published Date: 03/03/2024
• Author: Samradni P

Table of Contents

Introduction to tcs (tax collected at source).

Tax Collected at Source (TCS) is a provision under the Income Tax Act where the seller of specified goods or provider of specified services collects tax from the buyer at the time of sale/rendering of services. The tax collected is remitted to the government. 

The objective behind TCS is to collect tax from the buyer at an early stage rather than waiting until the end of the financial year. It helps track business transactions where there are chances of tax evasion. The tax collected by the seller is available as credit to the buyer at the time of filing income tax returns.

TCS was introduced on overseas tour packages in 2020 to keep track of high-value foreign tour packages bought by residents in India . Let us understand overseas tour packages, the evolution of TCS provisions, and recent changes announced in Budget 2023 in detail.

Understanding Overseas Travel Packages  

A key question is whether standalone purchases of just air tickets or hotel bookings qualify as overseas tour packages and face 5% TCS.

As per Circular 10 dated 30th June 2023, issued by CBDT, the term “overseas tour program package” has been clearly defined in the TCS provisions. The definition specifies that to qualify as an overseas tour package, it should compulsorily include at least two of the following:

• International Air Tickets
• Hotel Accommodation
• Any other expenses are incidental or ancillary to the tour, like sightseeing.

Or “Any tour package which offers a visit to a country or countries or territory or territories outside India and includes expenses for travel or hotel stay or boarding or lodging or any other expenditure of similar nature or about it.”  

Therefore, a standalone purchase of only air tickets or hotel booking is not classified as an overseas tour package based on the above definition. Consequently, such transactions shall remain outside the purview of the 5% TCS levy.

This relieves foreign tour planners and travelers who finalize travel and stay on a component basis due to cost or customization benefits. Individual component costs would remain fully extensible by the person without additional TCS burden.

To illustrate further, consider these scenarios:

• Kumar books a London air ticket worth ₹1.5 lakhs and stays with relatives, so accommodation is not charged. This isolated air ticket purchase does not attract overseas travel package TCS.
• Rajni incurs ₹3 lakhs for a 5-night stay in Singapore plus ₹50,000 for shopping and sightseeing paid to Changi Tours. There is also no overseas travel package; hence, no TCS is applicable.

So, a standalone air journey or accommodation does not qualify as a foreign tour package based on the wording of the updated provisions. This greatly simplifies compliance for travelers who do not take end-to-end package deals, and tour operators also have more clarity on the applicability of TCS based on whether Definition conditions are fulfilled or not.

Evolution of TCS on Overseas Travel Packages

Legislative history.

TCS provisions on overseas tour packages were introduced in the Finance Act 2020, which amended Section 206C to include subsection 1G. 

It mandated that the seller of overseas packages shall collect TCS at 5% of the sale value without any threshold limit. This was applicable from 1st October 2020.

The intention was to track high-value foreign remittances made by residents in India to ensure commensurate income tax payments.

Changes in Finance Act 2023

In Budget 2023, the government made two key amendments to Section 206C (1G), which were to be effective 1st July 2023:

• TCS rate increased from 5% to 20% 
• A threshold limit of ₹7 lakhs was introduced. TCS applies on an amount exceeding ₹7 lakhs spent by a buyer in one financial year. 

However, a 28th June Press Release postponed the change in TCS rate to 1st October 2023. The ₹7 lakh threshold will continue for determining the TCS rate – 5% or 20%.

Exploring the Recent Changes in TCS

Let us analyze the recent changes in TCS on overseas travel packages and their impact:

Applicable TCS Rates

A flat 5% TCS was applied on overseas packages irrespective of booking amount. Now, bookings above ₹7 lakhs invite a higher 20% TCS.

Threshold Exemption

The ₹7 lakh limit is an annual exemption per individual buyer. No TCS applies if the foreign package cost is less than this. The threshold helps avoid the TCS burden on small-budget travelers. 

All Modes of Payment Covered 

The expanded TCS applies irrespective of payment method – credit card, forex card, cash, cheque, bank transfer, etc. Earlier, credit card payments were excluded. 

Aggregation of Spends  

The ₹7 lakh limit applies to aggregating spending by a buyer across multiple overseas bookings in one financial year. 

So if someone books packages worth ₹5 lakhs and ₹3 lakhs through two agents, the second booking crosses the threshold and faces 20% TCS.

Purpose Agnostic 

The threshold applies uniformly across travel purposes – holidays, business, education, medical treatment, etc. TCS will depend only on total spending crossing ₹7 lakhs. Regarding foreign remittances for education and medical treatment under LRS, the TCS rate is lower than 5%, even above ₹7 lakhs.

Old TCS Rate vs New TCS Rate

Compliance and implementation .

The expanded TCS has an operational and compliance impact on Indian tour companies selling overseas packages. Let us understand key aspects.

Capturing Buyer Details

Tour companies must capture PAN details in invoices above ₹7 lakh mandatorily. This enables linking overseas package expenses to the buyer’s income tax return.

Modification of Billing Systems

Companies need to upgrade their accounting/billing software to incorporate differential TCS rates and the detection of threshold breaches.

Training Tour Sellers

Customer-facing staff and travel agents need appropriate training to explain TCS correctly to potential buyers of expensive foreign packages.

Coordinating Remittances

If a buyer purchases overseas packages through different sellers, each may need more visibility. Buyers can provide a common declaration of previous bookings.

Issuing TCS Certificates

Sellers have to issue TCS certificates against tax collected. Buyers can adjust this TCS while filing returns or claim refunds.

Revenue Leakage Risks

Buyers can split bookings among sellers without inter-agency visibility to stay below the radar. A common reporting mechanism is needed.  

How do you minimize foreign travel costs under the new TCS Regime?

Here are some tips to minimize foreign travel costs under the new TCS regime:

Purchase forex before 1st October 2023:

The new TCS rules will apply from 1st October 2023. So purchase forex before that date to save the additional 20% TCS if your forex purchase is above Rs 7 lakhs in a financial year.

Split bookings into multiple transactions under Rs 7 lakhs each:

If your total forex requirement exceeds Rs 7 lakhs, split it into multiple transactions of less than Rs 7 lakhs each. This will allow you to avoid TCS on at least some transactions.

Use LRS only up to Rs 7 lakhs annual limit:

To minimize cash blocks, consider other payment methods like credit cards for foreign transactions above the Rs 7 lakh threshold. LRS route attracts a higher 20% TCS beyond Rs 7 lakhs annual limit.

Book a basic Forex card and upgrade later:

If the initial Forex purchase exceeds the annual TCS threshold, book a basic Forex card and then upgrade/reload it while overseas. This way, only the initial load will face TCS.

Adjust TCS from your income tax calculations:

Remember that TCS is not an additional cost but is adjustable in your overall income tax calculations. So, you can reduce TCS impact by planning taxes appropriately.

Avail services once overseas using a credit card/forex card:

Consider booking add-ons like hotel upgrades/sightseeing, etc, by paying in foreign currency once overseas using a credit card. This way, you minimize upfront LRS remittances and save on TCS.

Steps to claim TCS:  

Collect the tcs certificate from the tour operator..

The assisting tour operator provides a certificate in Form 27D at the end of the financial year.

Verify the amount collected as TCS during the year.

Match with Form 26AS

Cross-check Form 27D details with TCS credits reflected in your Form 26AS.

Report any discrepancies in the TCS amount to the tour operator.

Furnish Income Tax Returns

When filing the ITR, provide details of the total TCS collection during the year.

Form 16 for salaried individuals would also reflect TCS credit.

Claim Refund or Adjust Against Tax Liability

If the total TCS deduction for the year exceeds the final tax liability, claim a refund.

Otherwise, adjust to lower the overall tax liability payment.

Provide relevant TCS documents as proof.

Retain acknowledgments and certificates of TCS paid as supporting evidence.

This may require reconciling with the ITR schedule and Form 26AS credits.

Also Read: Calculation And Payment Of TCS Liability In GSTR-8

Conclusion  

The enhanced TCS on overseas tour packages aims to make high-spend foreign travelers pay due taxes. Compliance would mean investing in process/system upgrades and training for tour companies. 

Certain open-ended aspects need clarification around aggregation and cross-verification of overseas spending. Expanding the digital travel ecosystem with interoperable data can help plug information gaps.

Overall, the amended provisions appear balanced, safeguarding genuine travelers and foreign exchange outflows. Smooth implementation by both receivers and payers of this TCS would determine its success.

Also Read: GST: Everything You Need To Know

What is the TCS rate on overseas tour packages above ₹7 lakhs bought before 1st October 2023? 

Before 1st October 2023, the TCS rate will be 5%, irrespective of the booking amount.

Does the ₹7 lakh limit apply separately if the travel purpose is education or medical treatment?

No. The exemption threshold uniformly applies to overseas travel packages across all purposes.

Can an employer adjust overseas package TCS at the time of tax deduction on employee salary?

Yes, the employer can factor the TCS amount based on the certificate issued to the employee and adjust against tax deduction liability.

How can an individual claim a refund if overseas package TCS exceeds their annual income tax?

Filing income tax returns enclosing the TCS certificate to adjust excess collection against tax liability and claim a refund of the balance.

Will independent flight and hotel bookings also attract overseas travel package TCS provisions? 

No. Standalone flight tickets/hotel bookings do not qualify as overseas tour packages. A combination of at least two qualifying expenses is needed.

Which part is subject to TCS if a tour package has domestic and international components?

Only the invoice value for the international portion of the package tour is subject to TCS. The domestic portion needs to be covered.

How can a tour company execute overseas booking through the sub-agent account for TCS compliance? 

The tour company directly interacting with the package buyer is responsible for all TCS compliance – collection, remittance, and certification.

Is TCS applicable if an employer organization books overseas business trips for employees?

No. TCS applies only when individual residents buy overseas tour packages. Official business trips arranged by organizations do not attract TCS.

Can credit card points redeemed for overseas travel booking also cause TCS implications? 

Yes, even overseas packages bought by redeeming credit card points are liable for TCS if the redeemed value crosses ₹7 lakhs in a financial year.

How do I account for TCS adjustment in case of cancellation or modification of overseas booking?

The travel company can issue a manual TCS revision certificate capturing the correct tax in case of a change in invoice value due to modification or cancellation. Buyers can use this certificate for tax adjustment.

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Top 25 Tata Consultancy Services (TCS) Interview Questions And Answers in 2024

Editorial Team

Tata Consultancy Services is an organization that provides IT services, consulting, and business solutions to organizations worldwide. They use their unique patented technology, the Location Independent Agile delivery model. It is recognized as a benchmark of excellence in software development. TCS, a member of the Tata group, the biggest multinational corporation in India, employs over 592,000 of the best-trained consultants in the world across 55 nations. The corporation is listed on the BSE (previously Bombay Stock Exchange) and the NSE (National Stock Exchange) in India, reporting combined revenues of US $25.7 billion for the fiscal year that ended on March 31, 2022.

It is one of the biggest companies in the world, and it only makes sense that everyone would want to get into the company. But getting a position in the TATA group is a challenging task. Everyone knows that an interview can make or break a case. Therefore, this article aims to facilitate those willing to start their corporate journey and make TATA one of their hallmarks, keeping this daunting reality in mind.

What follows are questions that the interviewer may ask you in your interview if you were to apply for a position at Tata consultancy services (TCS):

1. Please Describe Yourself. 

I am a hard worker with a strict disciplinary regime. I have a habit of ensuring that I commit to a task and see it ultimately. Although I can multitask perfectly well, the job requires us to focus on a mission and entirely on it without wavering. I am a resilient worker who has no problem moulding himself to meet the company’s needs while maintaining my individuality. That is important in these times. 

2. What Will You Regard As Your Greatest Strength And Weakness?

What I deem as my greatest quality is that I am upfront about things. I will always tell the truth and give constructive criticism no matter what. I do not shy away from challenging tasks and am always willing to work tirelessly to get the job done. One of t highlights that I have been told in the past is not the best trait I possess is that sometimes I get too lost in my work, which can, at times, result in me undermining my health.

3. What Do You Know About TCS?

TCS is an internationally renowned company whose parent company is the TATA group. It offers IT services to different companies, consults them in their businesses, and helps set up their IT setup. The research that I have done on the company has led me to believe that they also take care of their employees and are very vigilant in their work ethic. That is essential.

4. Why Did You Apply To TCS Even Though A Man Of Your Caliber Can Find A Job Elsewhere?

Isn’t it obvious? The company is a shell corporation of the TATA group. TATA is the way to go if you want to break into IT and its related subfields. Furthermore, the research I conducted has led me to believe that the company is the best fit for me. Joining any company should be more than just for the money. In my research, the best company for me would be TCS.

5. Why Did You Apply For This Job In Particular?

I am an analytical thinker. I can think on my feet, and I have exceptional coding skills. Furthermore, I love IT, and all the research I did narrow down TCS as my sole contender. At this particular level, not only will I be in a secure position, but I can also learn many new things that I otherwise would not be able to. I also believe in making a change in the world, and what better place to do that than TCS?

6. Why Should We Be Interested In Hiring You As A Member Of Our Community?

I know you are looking for talent wherever it comes from to grow. You want hard workers who are also intelligent enough to delegate and do their jobs without a constant need for monitoring. I assure you. It is a trait that I possess in abundance. I am not only good at delegating but also a level-headed person. I can keep calm and meet deadlines without delay and hassle.

7. It Is A More Advanced Position. We Need A Person To Cater To Our Company’s Needs And The Situation In General. What Traits Are Essential For This Job?

The essential trait for a job like this is staying laser-focused and working hard. The other characteristics include the ability and the commitment to work hard and always give your best. The ability to predict problems and prepare for contingencies is essential in the IT world. I am someone who has always been trustworthy in any task that I do, and I believe that this job requires a responsible person to take charge and do what is right. 

8. What Do You Know About IPsec? Mention Its Components.

An Internet Protocol (IP) network’s communications can be secured using the security protocol known as IPsec. Authentication Header (AH) and Encapsulating Security Payload are the components that makeup IPsec’s security system (ESP). While ESP encrypts the data to prevent reading by unauthorized users, AH authenticates the sender and the recipient of the data. For Internet Protocol communications, IPsec is a protocol that offers authentication and encryption. It provides data integrity, secrecy (encryption), replay protection, and network-level peer authentication.

IPsec is required for all IP implementations and supports transport and tunnel modes. Data confidentiality, data integrity, data origin authentication, and data anti-replay services are all provided by the network layer protocol IPsec. IPsec uses cryptographic security services to secure communication over unreliable networks, like the Internet. The security services listed below are provided by the cryptographic protocols and algorithms utilized by IPsec:

Confidentiality: This service ensures that no one can read the data besides authorized receivers. 

Data integrity: This service ensures that transmitted data has not been altered.

9. Define Cyclomatic Complexity. Explain Its Relevance In A Software Program.

The amount of code lines in a program is measured by its cyclomatic complexity. The complexity of the program increases with increasing cyclomatic complexity. High cyclomatic complexity software is more difficult to read and maintain. Public-key cryptography’s RSA algorithm is a popular choice for electronic commerce. Ron Rivest, Adi Shamir, and Len Adleman developed RSA in 1977. The algorithm is based on the observation that factoring a giant integer that is the product of two prime numbers is particularly challenging.

10. Can You Tell Us The Difference Between Awt And Swing In Java Language?

The Java GUI toolkit AWT (Abstract Windowing Toolkit) offers several interfaces that enable programmers to construct user interfaces. Another Java GUI toolkit, Swing, has a more user-friendly interface and is well-liked by Java newbie developers. As you can see, Swing is more approachable, while AWT is more conventional. It offers a wealth of tools for building graphical user interfaces (GUIs). Swing is a more contemporary windowing environment created exclusively for the Java platform.

11. What Is The Difference Between JDK And JRE?

A software development environment for creating Java components and applications is the Java Development Kit (JDK). The developers can develop an application in Java, a general-purpose computer programming language, for various platforms, including desktops, servers, mobile phones, personal digital assistants, embedded systems, game consoles, set-top boxes, and network-attached storage devices. In contrast, the runtime environment for Java applications is called the JRE. It includes a Java Virtual Machine (JVM), class libraries, and supporting files.

12. In An OS, What Is Known As RR Scheduling?

The RR Scheduling Algorithm is a scheduling algorithm used in operating systems to schedule processes. The algorithm is designed to work with techniques that have equal priority. The algorithm gives each process a time slice, a unit of time to run. The time slice is usually set to a small enough value so that all methods get a fair share of the CPU time.

13. What Are The Four Basic Principles Of OOPS That You Might Be Required To Use In Your Position Here?

Object Oriented Programming (OOPs) is a great way to develop complex programs. The principle of coding using OOPs is dividing your tasks by designating them as different objects. The four fundamental concepts used in IT jobs at TCS are:

• Encapsulation.
• Inheritance.
• Polymorphism.
• Abstraction.

14. What Is SDLC?

The software development life cycle (SDLC) is a framework that gives the actions necessary to produce a piece of software structure. It is also employed as a new technique to gauge software development. Even so, the process is often broken down into six phases: requirements collecting, design, implementation, testing, deployment, and maintenance. Gathering requirements is the first stage of the SDLC.

15. Please Tell Me Why It Is Better To Use A DBMS.

• DBMSs are made to be fault-tolerant, which allows them to continue operating in the event of a hardware or software failure without losing any data.

• DBMSs are made scalable, expanding to accommodate the organization’s growth and complexity.

• For businesses that need to share data among many departments or systems, DBMSs offer a uniform method of accessing data across all applications.

• DBMSs offer a simple approach to handle changes in storage capacity by adding more discs or swapping out smaller discs for larger ones without interfering with the operation of other system components.

16. We Take Care Of The Needs Of Our Employees, And Whomever We Hire Must Be The Right Fit For The Team. How Can You Integrate Into The Company And With The Team?

I am a team worker. I do not shy away from expressing my opinions. Still, I also do not have any problems listening to others, and I respect differences of opinion and look for varying opinions. It makes us all grow as humans, and this is a trait that has helped me immensely in my journey. I believe that an individual should be willing to get out of their comfort zones and cover for their teammates to be good team players. Luckily, I have that quality in me, and I can work well with people, irrespective of their region or cast.

17. Please Tell Us The Difference Between Socket And Session.

A socket is a device that transmits and receives received data through a network. It’s an example of an endpoint employed to make communication between two computers easier. A socket can have one or two directions. A session is when two computers communicate with one another.

18. What Is Data Abstraction, And How Is It Important?

In computer science, data abstraction is a crucial idea. It is employed to keep an implementation’s specifics hidden from its users. The developers employ data abstraction to make Interfaces that are simple to use and comprehend. Additionally, it helps to maintain and modularize code.

19. What Are WPF And WCF?

The.NET Framework makes use of two powerful technologies: WPF and WCF. Windows Vista introduces WPF, a platform-independent GUI development framework. WCF is a technology that enables the creation and administration of services.

Two well-liked frameworks for creating Windows-based software are WPF and WCF. While WCF is a service framework, WPF is a user interface framework. Both of these enable programmers to make cross-platform programs.

20. What Does A Transparent Data Management System Indicate?

An example of a database management system (DBMS) that conceals its physical structure from users is the transparent database management system. The memory of a system’s memory, also known as the physical storage structure, specifies how data is kept on a disc.

21. What Do You Know About The Backbone Network?

Typically a centralized system, a backbone network, delivers various routes and data to numerous networks. Additionally, it manages the bandwidth on different channels.

22. What Are The Two Integrity Rules In A Database Management System?

The ACID and Atomicity rules are integrity criteria that must be adhered to in a database management system. According to the ACID rule, any modification of an object must be made atomically, which requires that all of the object’s data be altered simultaneously. By doing this, the database is kept dependable and consistent.

23. What Is Polymorphism?

A class’s ability to behave differently depending on the kind of object is cast to be known as polymorphism. It enables various object types to be handled consistently, which can be helpful when developing software. For instance, a programmer should permit user text entry in either a text box or a text area field. The programmer can create code that handles both inputs correctly by utilizing polymorphism.

24. How Would You Define The Normalization Of Databases, Joins, And Keys?

A database is organized into tables and columns using the data design process known as database normalization. The primary goal of normalization is to divide your data into different tables and establish connections between them. The normalizing procedure typically produces a database design that is more effective and efficient. When creating relational databases, normalization is frequently employed. Databases are normalized to ensure data consistency and minimize redundancy. Tables must be divided into minor parts to achieve this, and only relevant data should be kept in a single database. If an address is recorded in many places and one copy is updated while the other is not, redundancy may result in inconsistency. Normalization also involves using keys, unique identifiers for each record and joins, which relate data in different tables.

25.  Suppose That You Were Selected For This Position. If You Were To Be Offered A Job At This Company, What Salary Package Would You Be Looking For?

If I were to be selected by this company, it would be an honour. As for the job itself, I would be open to varying packages, but since our work at most times depends on the complexity of the coding and the task itself, I would be willing to negotiate my salary per hour if I was paid a dividend according to the complexity of the program itself and how much work I did on the project in general.

An interview can be a scary task. Many people who are reasonably fit for the job fail to get it simply because they need more confidence or the right clothing. The interview is what finalizes an individual’s place at any organization. These questions are there to help you through your journey. If you lack confidence or get intimidated easily, this article should help you prepare yourself if you get an interview from TCS. And while these questions may be numerous, they are not fixed. It is your job to ensure that you are well prepared for the job and that you prepare for the interview. And remember. The most significant part of any interview is confidence. 

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