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INFO-TECH
STOCKS
HCL Technologies: Hold
Following the rebalancing of the services portfolio towards application/engineering and probable rebound in technology services, HCL Technologies appears well-positioned for good times ahead. However, sustainability of growth from its organic softwar e business, competition from frontline companies and other extraneous risks remain, says Krishnan Thiagarajan.
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TAXATION
No service tax for software maintenance
ANNUAL maintenance contracts entered into for maintenance of software would not attract service tax. The Finance Ministry has made it clear through a circular that maintenance of software would not be chargeable to service tax. This circular ...
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