Here are the top stories this afternoon:

Nearly 5,000 of Flipkart's senior staff won’t get any pay hike this year

At a time when tech companies are cutting costs to increase their profitability, e-commerce major Flipkart has decided to restrict annual increment of salaries to only 70 percent of its employees, which means that around 5,000 of its senior staff won’t get any hikes this year. It was communicated to employees through an email on February 22. More here

Six income-tax exemptions that even the new tax regime allows

The new tax regime may have been introduced as a simpler, less-cumbersome-paperwork alternative to tax-payers, but it is not completely devoid of tax relief. It offers benefits on employers’ contribution to NPS, life insurance maturity proceeds, and so on.