Indian IT bellwether Infosys Ltd Monday said it would appeal against the notice of the income tax department demanding Rs.

The potential implementation of the US immigration Bill have added to the challenges faced by Indian information technology (IT) companies.

Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a Rs 576.9 crores income tax demand raised by Indian authorities earlier this month.

 Income Tax department has slapped a fresh $ 106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India's second largest IT firm.

Country's second largest software services firm Infosys has said changes in policies and laws, both domestic and foreign, and intensifying competition in the technology services market may impact its revenues.

S D Shibulal, the chief executive officer and managing director of Infosys, the country’s second largest information-technology company, took a pay cut of 26 per cent in financial year 2012-2013, primarily due to a cut in bonus/incentive pay.

Infosys Ltd, India's second largest IT services exporter, said various provisions in the proposed immigration and Visa regulation bill in the US will have an adverse impact on the company's business, revenue and operations.

Swami Swaminathan, the former chief executive officer and managing director of Infosys BPO, the business process outsourcing arm of Infosys Ltd, has joined Manipal Health Enterprises, the health care business of Manipal Group, as executive chairman.

Infosys BPO, the business process outsourcing arm of Infosys is looking at enhancing its platform BPO capabilities to expand its service offerings.

Sixty-one per cent of the companies in the five BRICS countries - Brazil, Russia, India, China and South Africa - do not publicly disclose their carbon emission details, according to a survey by Environmental Investment Organisation (EIO), a UK-based

We believe, in the worst case scenario, the impact on margins of Indian IT companies will be three fold. First, visa fees will catapult almost 100% (from ~$5k to ~$10K).

Usually, the Infosys leadership does not talk seriously about its acquisition strategy during earnings press conferences. But the last quarter seems to have been an exception.

With Infosys disappointing the street on the day of result, we observed lot of action in other technology heavyweights like HCLTECH, WIPRO and TCS. This is observed in spite of good set of numbers announced by HCLTECH and TCS.

The country's four top IT firms -- TCS, Infosys, Wipro and HCL Technologies -- have seen their combined cash chest swell to a whopping $8 billion (Rs 43,200 crore), even as the overall business trends remain sluggish for the entire sector.

Cash-rich IT giant Infosys slashed its exposure to liquid mutual funds by a whopping Rs 5,600 crore (over $1 billion) during the first quarter of 2013, as yields on such investments are expected to flatten.

Infosys has dipped almost 4% to Rs 2,206, its lowest price since August 2012 on BSE, after reporting a lower-than-expected revenue and operating margin for the quarter ended March 2013 and disappointing Dollar revenue guidance for the current

Infosys’ revenue growth was disappointing with volume growth in IT services at 1.8% while pricing saw a decline of 0.7% QoQ.

The impact of Infosys' results for the fourth quarter of 2012-13 has been dramatic. While its shares dropped a massive 21.3 per cent on reporting day, the Sensex lost nearly 300 points, or 1.6 per cent.

Domestic institutional investors (DIIs), caught napping in early January when shares of software exporter Infosys rallied on better-than-expected December results, have done much better this time.

Infosys' dismal show in the March quarter coupled with lower than expected revenue guidance for the full year indicate that the company's turnaround may take longer than anticipated.