The United States issues 85,000 H1B visas every year and as many as 14,450 go to Indian companies, mostly information technology firms.
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About 9.1 million new taxpayers have been brought within the income tax ambit by the authorities after the demonetisation drive. Some 1.8 million of them have been found with cash transactions not in line with their income profiles.
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Taxes worth Rs. 34,000 Crore have been evaded by companies.
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Card transaction volume came down by 3.6% in April 2017 from a month earlier, indicating that cash transactions are picking up in the country, contrary to the expectations that demonetisation has given an irreversible push to digital transactions.
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India’s IT industry employs 3.9 million people. But seven IT firms, including Infosys, Wipro, Tech Mahindra and HCL Technologies which together employ 1.24 million people, plan to let go of....
