Friendship in itself is an incredible gift to mankind and it is a reason to celebrate.
Income tax return: What if you miss the deadline
A lot of people miss the deadline every year due to lack of time or
plain laziness. Did you miss it too? In case you have, do not worry, you
can still file a belated return. As a tax payer, you are likely to fall
under one of these four categories. The associated rules and
implications are outlined below.
Case 1: No pending tax liability
Cases where all the taxes have been paid through TDS or advance tax and you don't owe any more to the tax department. This is the safest situation. The income tax return for any assessment year can be filed till the end of that assessment year without any penalty. If it is filed after the end of the assessment year, there is a lump sum penalty of Rs. 5,000.
Case 2: Tax liability exists
This is the case where you still owe taxes to the government. It can happen due to many reasons. For example: if you have income from other sources, if you have worked in more than one company, etc. In such cases, the basic rule remains the same, i.e., the income tax return for any assessment year can be filed till the end of that assessment year without any penalty. You will be liable to pay a penalty of 1 per cent interest on the balance tax payable.
Case 3: You have a tax refund
If you have any tax refund then you can file the return even after the deadline without any issue. The only disadvantage will be that your return may be processed late, which may delay the refund process.
Case 4: You have to carry forward losses
Irrespective of the fact whether you have tax liability or not, if you do not file your income tax return by the deadline then you cannot carry forward the losses of that year to the next year. Thus, you would lose the benefit of setting off of these losses against the income of next year. However, there is an exception to this rule. This rule doesn't apply to loss from house property, which means this loss can be carried forward even if the income tax return is filed after the deadline.
Important points:
Disclaimer: All information in this article has been provided by InvestmentYogi.com and NDTV Profit is not responsible for the accuracy and completeness of the same.
Source:NDTVProfit.com
Case 1: No pending tax liability
Cases where all the taxes have been paid through TDS or advance tax and you don't owe any more to the tax department. This is the safest situation. The income tax return for any assessment year can be filed till the end of that assessment year without any penalty. If it is filed after the end of the assessment year, there is a lump sum penalty of Rs. 5,000.
Case 2: Tax liability exists
This is the case where you still owe taxes to the government. It can happen due to many reasons. For example: if you have income from other sources, if you have worked in more than one company, etc. In such cases, the basic rule remains the same, i.e., the income tax return for any assessment year can be filed till the end of that assessment year without any penalty. You will be liable to pay a penalty of 1 per cent interest on the balance tax payable.
Case 3: You have a tax refund
If you have any tax refund then you can file the return even after the deadline without any issue. The only disadvantage will be that your return may be processed late, which may delay the refund process.
Case 4: You have to carry forward losses
Irrespective of the fact whether you have tax liability or not, if you do not file your income tax return by the deadline then you cannot carry forward the losses of that year to the next year. Thus, you would lose the benefit of setting off of these losses against the income of next year. However, there is an exception to this rule. This rule doesn't apply to loss from house property, which means this loss can be carried forward even if the income tax return is filed after the deadline.
Important points:
- Returns filed after the due date cannot be revised
- Some of the deductions under section 80 are not available in case returns are being filed late.
Disclaimer: All information in this article has been provided by InvestmentYogi.com and NDTV Profit is not responsible for the accuracy and completeness of the same.
Source:NDTVProfit.com
Bollywood mourns death of Jagdish Raj
Celebrities expressed grief over the demise of veteran actor Jagdish Raj, who had the record of playing a police officer 144 times in various Bollywood films.
"Shri Jagdish Raj, the official 'Police Inspector' of the Indian film
industry, passed away. RIP," director Rahul Rawail wrote on
micro-blogging site twitter.
Filmmaker Ashok Pandit said, "Sad to know Jagdish Raj is no more. The industry lost its great Police officer. RIP."
"RIP Jagdish Raj, the quintessential police officer for generations in Indian films. Your works will live on," actress Soumya Tandon said.
"Not seen any news channel cover the demise of Jagdish Raj. Sad," Tanuj Garg of Balaji Telefilms said. The last rites of the actor were performed yesterday evening at the Pawan Hans crematorium here.
"Only family and close friends had come for the last rites. From the industry, Rishi Kapoor, David Dhawan, Rahul Rawail had come. The chautha will be held tomorrow," Malhotra said.
Born as Jagdish Raj Khurana in Sargodha, British India (now part of Pakistan), he acted in films from 1960 till retirement in 1992.
Some of his popular movies include Deewar, Don, Shakti, Mazdoor, Imaan Dharam, Gopichand Jasoos, Silsila, Aaina and Besharam.
Though Jagdish occasionally played a villain and a couple of times essayed the role of a judge, he was best known for being cast a record 144 times as a police officer.
He is survived by two daughters and a son.
Source: The Times of India
Jagdish,
the famous police officer of Bollywood, passed away on Sunday at his
Juhu residence following respiratory ailment. He was 85.
"He was not keeping well for the past two years. He had lung and respiratory problems. He passed away yesterday due to respiratory problems," the actor"s son-in law Rakesh Malhotra told
"He was not keeping well for the past two years. He had lung and respiratory problems. He passed away yesterday due to respiratory problems," the actor"s son-in law Rakesh Malhotra told
Filmmaker Ashok Pandit said, "Sad to know Jagdish Raj is no more. The industry lost its great Police officer. RIP."
"RIP Jagdish Raj, the quintessential police officer for generations in Indian films. Your works will live on," actress Soumya Tandon said.
"Not seen any news channel cover the demise of Jagdish Raj. Sad," Tanuj Garg of Balaji Telefilms said. The last rites of the actor were performed yesterday evening at the Pawan Hans crematorium here.
"Only family and close friends had come for the last rites. From the industry, Rishi Kapoor, David Dhawan, Rahul Rawail had come. The chautha will be held tomorrow," Malhotra said.
Born as Jagdish Raj Khurana in Sargodha, British India (now part of Pakistan), he acted in films from 1960 till retirement in 1992.
Some of his popular movies include Deewar, Don, Shakti, Mazdoor, Imaan Dharam, Gopichand Jasoos, Silsila, Aaina and Besharam.
Though Jagdish occasionally played a villain and a couple of times essayed the role of a judge, he was best known for being cast a record 144 times as a police officer.
He is survived by two daughters and a son.
Source: The Times of India
How to facilitate the filing of income tax returns
Aloke Gupta is unable to handle the paperwork when it is time to file his income tax
returns. He ends up filing the return based on the Form 16 provided by
his employer since salary is his primary source of income. It is easier
to take care of the interest earned on deposits based on the TDS
certificate, but the rest of his investments in shares and mutual funds
are tough to manage for tax purposes. What should Gupta do?
If Gupta has too many transactions in equity and mutual funds, it may help to find a chartered accountant to maintain his accounts and file the tax returns. Equity transactions may create shortterm capital gains, which are taxable. Similarly, there may be capital losses that can be set off against some gains. Mutual fund transactions may also have short- and long-term capital gains that are taxable. Gupta may not be complying with tax laws if he does not account for and pay taxes that may be due on these transactions.
Many service providers and brokers provide periodic statements, which show tax liability with respect to equity, debt, mutual fund and derivative transactions. Gupta should subscribe to these services and use the statements after due verification by his CA to ensure that he is paying the right amount as tax. He should remember that the tax on these investment gains is not subject to TDS. Therefore, Gupta may have to fill up the required tax challans and pay the taxes as applicable. It might help to consolidate his transactions in investments with one or two advisory services.
Gupta also needs to ensure he does not have too many bank accounts that are used for making these investments. The non-payment of taxes may lead to fines and penalties if his returns come up for scrutiny. The cost of maintaining his accounts and books might turn out to be lower in comparison.
The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre and Arti Bhargava
Source:The Economic Times
If Gupta has too many transactions in equity and mutual funds, it may help to find a chartered accountant to maintain his accounts and file the tax returns. Equity transactions may create shortterm capital gains, which are taxable. Similarly, there may be capital losses that can be set off against some gains. Mutual fund transactions may also have short- and long-term capital gains that are taxable. Gupta may not be complying with tax laws if he does not account for and pay taxes that may be due on these transactions.
Many service providers and brokers provide periodic statements, which show tax liability with respect to equity, debt, mutual fund and derivative transactions. Gupta should subscribe to these services and use the statements after due verification by his CA to ensure that he is paying the right amount as tax. He should remember that the tax on these investment gains is not subject to TDS. Therefore, Gupta may have to fill up the required tax challans and pay the taxes as applicable. It might help to consolidate his transactions in investments with one or two advisory services.
Gupta also needs to ensure he does not have too many bank accounts that are used for making these investments. The non-payment of taxes may lead to fines and penalties if his returns come up for scrutiny. The cost of maintaining his accounts and books might turn out to be lower in comparison.
The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre and Arti Bhargava
Source:The Economic Times
Income tax returns: 9 tax saving options other than Section 80C
Before you calculate your tax liabilities, remember to analyze the
various sections of tax deductions under the Income Tax Act as tax
planning does not end with Section 80C. (Calculate your tax liability here)
80D:
Tax deduction under section 80D qualifies for mediclaim policies. The premium, which is paid for medical insurance policy for self and family members to protect them from sudden medical expenses, comes under this section. The maximum amount allowed for exemption annually for self, spouse and dependent parents/children is Rs. 15,000. In case of a senior citizen, the maximum amount extends up to Rs. 20,000. If you are paying the premium for your parents (whether dependent or not), you can claim an additional maximum deduction of Rs. 15,000.
80DD:
According to the Income Tax Act, if you are paying a premium to LIC or any other insurance company (approved by the Income Tax board) for the medical treatment of a dependent physically disabled person, you can avail exemption under the section 80DD. Here, the dependent should be none other than your spouse, children, parents or sibling. If the person is suffering from 40 per cent of any disability, a fixed sum of Rs. 50,000 can be claimed in a year. Similarly, if the disability is 80 per cent, the fixed sum goes up to Rs. 1,00,000 per year. For initiating the process of deduction you need to submit the medical certificate issued by a medical authority along with the return of income.
80DDB:
If you have incurred expenses for the medical treatment of self or your dependents, you can claim a deduction of up to Rs. 40,000 or the actual amount paid, whichever is less, under the section 80DDB. For a senior citizen, the maximum exempted amount is Rs. 60,000, or the amount actually paid for medical expenses. To claim a deduction under this section, you need to submit a medical certificate from a doctor working in a government hospital.
80E:
The interest paid on loan taken for pursuing higher education of self or any dependent is exempted from tax under section 80E. An education loan can be taken for wife, children and minors for whom you are the legal guardian. This deduction is applicable for a period of eight years or till the interest is paid, whichever is earlier. The deduction is only approved for higher studies, which means full-time graduate or postgraduate courses in engineering, management or applied sciences, pure sciences including mathematics or statistics. However, from 2011 onwards, the scope of this exemption has been extended to cover all fields of studies including vocational studies pursued after completing the senior secondary examination or equivalent. No exemption is applicable for part-time courses.
80G:
One often donates on philanthropic grounds to help the destitute. Such an amount can be donated to trusts, charitable institutions and approved educational institutions, and qualifies for deduction under Section 80G. The exemptions can be up to 50 per cent or 100 per cent of the donations made. Funds in which the donations are eligible for tax exemptions include the National Defence Fund, Prime Minister Drought Relief Fund, National Foundation for Communal Harmony, National Children's Fund, Prime Minister's National Relief Fund, etc.
80GG:
If a salaried or self-employed person staying in a rented house does not receive any kind of HRA, they can claim a deduction under this section. However, you cannot avail any such benefit if you, your spouse and/or your child owns any residential accommodation in India or abroad. You can claim the least of the following under Section 80GG: 25 per cent of the total income, or Rs. 2000 per month, or excess of rent paid over 10 per cent of total income.
80GGC:
Any monetary contribution to any political party or electoral trust is eligible for tax exemption. Thus, your contribution, as a matter of appreciation for their work, will serve both the purposes.
80U:
A resident of India suffering from any kind of specified disability is eligible to claim tax deduction under this section. In order to enjoy this opportunity, one should be suffering from not less than 40 per cent of the following diseases: blindness, low vision, mental illness, mental retardation, hearing impairment. The deduction provided is flat Rs. 50,000, irrespective of the expense incurred. If the disability is severe, the deduction can be up to Rs. 1 lakh. One needs to provide a copy of all the certificates issued by a medical authority in order to avail this benefit.
80CCG:
The Finance Act 2012 introduced a new Section 80CCG to offer 50 per cent tax break to new investors who invest up to Rs. 50,000 and whose GTI is less than or equal to Rs. 10 lakh. It has been introduced for budding investors entering the equity markets for the first time and is a once-in-a-lifetime benefit.
Hence, there are several sections apart from 80C that can help an individual benefit from tax exemptions. It is time to start looking beyond 80C for tax savings.
Disclaimer: All information in this article has been provided by BankBazaar.com and NDTV Profit is not responsible for the accuracy and completeness of the same.
80D:
Tax deduction under section 80D qualifies for mediclaim policies. The premium, which is paid for medical insurance policy for self and family members to protect them from sudden medical expenses, comes under this section. The maximum amount allowed for exemption annually for self, spouse and dependent parents/children is Rs. 15,000. In case of a senior citizen, the maximum amount extends up to Rs. 20,000. If you are paying the premium for your parents (whether dependent or not), you can claim an additional maximum deduction of Rs. 15,000.
80DD:
According to the Income Tax Act, if you are paying a premium to LIC or any other insurance company (approved by the Income Tax board) for the medical treatment of a dependent physically disabled person, you can avail exemption under the section 80DD. Here, the dependent should be none other than your spouse, children, parents or sibling. If the person is suffering from 40 per cent of any disability, a fixed sum of Rs. 50,000 can be claimed in a year. Similarly, if the disability is 80 per cent, the fixed sum goes up to Rs. 1,00,000 per year. For initiating the process of deduction you need to submit the medical certificate issued by a medical authority along with the return of income.
80DDB:
If you have incurred expenses for the medical treatment of self or your dependents, you can claim a deduction of up to Rs. 40,000 or the actual amount paid, whichever is less, under the section 80DDB. For a senior citizen, the maximum exempted amount is Rs. 60,000, or the amount actually paid for medical expenses. To claim a deduction under this section, you need to submit a medical certificate from a doctor working in a government hospital.
80E:
The interest paid on loan taken for pursuing higher education of self or any dependent is exempted from tax under section 80E. An education loan can be taken for wife, children and minors for whom you are the legal guardian. This deduction is applicable for a period of eight years or till the interest is paid, whichever is earlier. The deduction is only approved for higher studies, which means full-time graduate or postgraduate courses in engineering, management or applied sciences, pure sciences including mathematics or statistics. However, from 2011 onwards, the scope of this exemption has been extended to cover all fields of studies including vocational studies pursued after completing the senior secondary examination or equivalent. No exemption is applicable for part-time courses.
80G:
One often donates on philanthropic grounds to help the destitute. Such an amount can be donated to trusts, charitable institutions and approved educational institutions, and qualifies for deduction under Section 80G. The exemptions can be up to 50 per cent or 100 per cent of the donations made. Funds in which the donations are eligible for tax exemptions include the National Defence Fund, Prime Minister Drought Relief Fund, National Foundation for Communal Harmony, National Children's Fund, Prime Minister's National Relief Fund, etc.
80GG:
If a salaried or self-employed person staying in a rented house does not receive any kind of HRA, they can claim a deduction under this section. However, you cannot avail any such benefit if you, your spouse and/or your child owns any residential accommodation in India or abroad. You can claim the least of the following under Section 80GG: 25 per cent of the total income, or Rs. 2000 per month, or excess of rent paid over 10 per cent of total income.
80GGC:
Any monetary contribution to any political party or electoral trust is eligible for tax exemption. Thus, your contribution, as a matter of appreciation for their work, will serve both the purposes.
80U:
A resident of India suffering from any kind of specified disability is eligible to claim tax deduction under this section. In order to enjoy this opportunity, one should be suffering from not less than 40 per cent of the following diseases: blindness, low vision, mental illness, mental retardation, hearing impairment. The deduction provided is flat Rs. 50,000, irrespective of the expense incurred. If the disability is severe, the deduction can be up to Rs. 1 lakh. One needs to provide a copy of all the certificates issued by a medical authority in order to avail this benefit.
80CCG:
The Finance Act 2012 introduced a new Section 80CCG to offer 50 per cent tax break to new investors who invest up to Rs. 50,000 and whose GTI is less than or equal to Rs. 10 lakh. It has been introduced for budding investors entering the equity markets for the first time and is a once-in-a-lifetime benefit.
Hence, there are several sections apart from 80C that can help an individual benefit from tax exemptions. It is time to start looking beyond 80C for tax savings.
Disclaimer: All information in this article has been provided by BankBazaar.com and NDTV Profit is not responsible for the accuracy and completeness of the same.
Telangana: Near total bandh in coastal, southern AP
New Delhi: India is all
set to get its 29th state – Telangana, which was endorsed by UPA allies
and cleared by the powerful Congress Working Committee on Tuesday
evening.
While the decision has been welcomed by pro-Telangana supporters, those opposed to the move have termed it suicidal.
New Delhi: India is all set to get its 29th state – Telangana, which was endorsed by UPA allies and cleared by the powerful Congress Working Committee on Tuesday evening.
While the decision has been welcomed by pro-Telangana supporters, those opposed to the move have termed it suicidal.
Here are the updates:
Shutdown has been effective in coastal and southern Andhra Pradesh; near total bandh observed.
West Bengal Chief Minister Mamata Banerjee condemns UPA
government for endorsing statehood to Telangana, calls the decision
"divisive politics". Mamata has also written to Prime Minister Manmohan
Singh asking for the reasons behind the decision.
TDP chief N Chandrababu Naidu calls on the Centre to develop a
city at par with Hyderabad as the capital of Andhra Pradesh following
the formation of Telangana.
The decision to create Telangana "seems to have been impelled
by the forthcoming Lok Sabha elections. It will give a fillip to demands
for separate states in other places", says CPI(M).
Digvijay Singh says there is nothing wrong in having Hyderabad
as joint capital for the two states of Telangana and Andhra Pradesh.
Six state ministers who are opposed to the creation of
Telangana state have submitted resignations to the Andhra CM, say
reports.
Reports said Andhra CM Kiran Kumar Reddy, who is from the
Rayalaseema region and is a staunch supporter of the "united Andhra
Pradesh" cause, told his ministers today that the decision on Telangana
was "painful" for him as well. He however added that there was now a
need to look at the road ahead and how to move ahead on the new states.
P Ramesh Babu, Congress MLA from Pendurthy Assembly
constituency, resigns to protest the Congress decision to form a
separate Telangana state.
Decision is in favour of Telangana because ultimately
Hyderabad will be Telangana's capital, says Digvijay Singh. Decision is
also in favour of Rayalaseema and Andhra so that both can progress and
be self-reliant, he adds.
Until a new capital is formed for Andhra Pradesh, Hyderabad will be capital of both states, says Congress' Digvijay Singh.
BJP and Narendra Modi should welcome the decision (on
Telangana) and not question the delay, intentions behind the decision
etc, says Jagdambika Pal of the Congress.
Effigies of Congress president Sonia Gandhi burnt during anti-Telangana protests.
The shutdown has hit normal life in Visakhapatnam,
Vijayanagaram, Eluru, Kakinada, Vijayawada, Guntur, Nellore, Ongole,
Chittoor, Tirupati, Anantapur, Kadapa, Kurnool and other towns.
Hundreds of vehicles are on the Vijayawada-Hyderabad and the Chennai-Bhubaneswar highways.
Road transport has come to a standstill while shops, business
establishments and educational institutions have remained closed in the
two regions.
Protests have begun in coastal Andhra and Rayalaseema regions.
Hundreds of police and paramilitary personnel have been deployed in the two regions to maintain law and order.
Union Cabinet is set to meet on Wednesday to discuss Telangana
- a separate state to be carved out of Andhra Pradesh. While the agenda
of the special Cabinet meeting has not been disclosed, sources say it
is most likely to take up and approve the creation of Telangana.
A day-long bandh has been called across coastal and southern Andhra Pradesh to protest the proposed creation of Telangana.
A 'hurt' Rayapati Sambasiva Rao, senior Congress leader and
Lok Sabha member from Guntur, said he was resigning from the party as
well as his Parliamentary seat in protest.
Congress ministers and MPs from Andhra Pradesh are expected to meet state Chief Minister Kiran Kumar Reddy today.
Congress general secretary Digvijay Singh told a press
conference last evening that the creation of Telangana will take around
four to five months. "The entire process should take around four to five
months," he said.
After the Cabinet approves Telangana, the CWC resolution will
be sent to the Andhra Pradesh Assembly, which will have to approve it.
Next, the Central government would set up a group of ministers
(GoM) which will go into the details of sharing the assets like water
resources, boundary, finances and security related issues between
Telangana and the rest of Andhra Pradesh.
The Law Ministry will then draft a bill for creation of Telangana state which will be sent to the Union Home Ministry.
The suggestions of the state Assembly will not be binding on the Home Ministry.
The bill, once approved by the Union Cabinet, will then be sent to President Pranab Mukherjee for his approval.
It will then be sent to Parliament to be passed by a simple
majority in both the Houses. Once approved by Parliament, the bill will
again be sent to the President for his assent.
While the decision has been welcomed by pro-Telangana supporters, those opposed to the move have termed it suicidal.
New Delhi: India is all set to get its 29th state – Telangana, which was endorsed by UPA allies and cleared by the powerful Congress Working Committee on Tuesday evening.
While the decision has been welcomed by pro-Telangana supporters, those opposed to the move have termed it suicidal.
Here are the updates:
Indian IT cheers Telangana state formation
HYDERABAD: After over three years of uncertainty, the Information Technology industry here heaved a sigh of relief with the Congress party's announcement to carve out a separate Telangana state.
The announcement has cleared the air over the future of Hyderabad, a major IT destination in the country.
This fast growing metropolis will be the joint capital of Telangana and Andhra Pradesh for 10 years. Andhra Pradesh is expected to build its own capital within that period.
The IT industry welcomed the decision, saying it brought an end to uncertainty and brightened the prospects of the city attracting new investments.
The industry with software exports to the tune of Rs 40,000 crore was worried over frequent shutdowns and spells of violent protests for separate Telangana state. This had taken sheen off brand Hyderabad.
"I believe the decision has brought in a positive sentiment as the uncertainty surrounding the matter has finally been resolved," said V. Laxmikanth, managing director, Broadridge India.
"Hyderabad, known for its large pool of talented IT professionals and as a base for leading MNCs, is expected to reclaim its reputation of being the destination of choice for businesses across industries," he said.
BVR Mohan Reddy, chairman and managing director, Infotech Enterprises, said while he was not for or against the decision, he was anxiously looking forward for this decisive movement.
"The separation problem has been voiced for the last 50 years but in the last three years some of these agitations have been (hurdles) for progress of the state. The uncertainty has slowed down the growth. That is now past."
Suman Reddy, vice president and managing director, Pegasystems India, hoped the development will bring back stability in the business environment of the city.
"Growth and expansion from the perspective of IT MNCs investing in the state had been stalled/relatively slow due to this issue, which hopefully will resume after the decision is announced," he said.
Hyderabad, which emerged on the world IT map only in mid-1990s, is home to over 1,000 IT and ITeS companies including global majors like Microsoft, Google, Facebook, Dell, Oracle and Amazon.
The IT and ITes sector provides nearly five lakh jobs.
The announcement has cleared the air over the future of Hyderabad, a major IT destination in the country.
This fast growing metropolis will be the joint capital of Telangana and Andhra Pradesh for 10 years. Andhra Pradesh is expected to build its own capital within that period.
The IT industry welcomed the decision, saying it brought an end to uncertainty and brightened the prospects of the city attracting new investments.
The industry with software exports to the tune of Rs 40,000 crore was worried over frequent shutdowns and spells of violent protests for separate Telangana state. This had taken sheen off brand Hyderabad.
"I believe the decision has brought in a positive sentiment as the uncertainty surrounding the matter has finally been resolved," said V. Laxmikanth, managing director, Broadridge India.
"Hyderabad, known for its large pool of talented IT professionals and as a base for leading MNCs, is expected to reclaim its reputation of being the destination of choice for businesses across industries," he said.
BVR Mohan Reddy, chairman and managing director, Infotech Enterprises, said while he was not for or against the decision, he was anxiously looking forward for this decisive movement.
"The separation problem has been voiced for the last 50 years but in the last three years some of these agitations have been (hurdles) for progress of the state. The uncertainty has slowed down the growth. That is now past."
Suman Reddy, vice president and managing director, Pegasystems India, hoped the development will bring back stability in the business environment of the city.
"Growth and expansion from the perspective of IT MNCs investing in the state had been stalled/relatively slow due to this issue, which hopefully will resume after the decision is announced," he said.
Hyderabad, which emerged on the world IT map only in mid-1990s, is home to over 1,000 IT and ITeS companies including global majors like Microsoft, Google, Facebook, Dell, Oracle and Amazon.
The IT and ITes sector provides nearly five lakh jobs.
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