The Central Board of Direct Taxes on Tuesday notified the norms for valuation of employee stock option plans (ESOPs) for calculating fringe benefit tax (FBT). The rules will take effect from April 1, 2008, and apply from assessment year 2008-09. The notification said the value of stock options of listed companies would be the listing value - the average of opening and closing price - on the day the options were vested with the employee.
"The cost of economic crime in India is significant, which is also evident from some of the large frauds experienced by the country in the last two years," said PricewaterhouseCoopers Advisory Leader Ashwini Puri, adding, "Additionally, average cost to manage economic crime in India is close to double as compared to global averages."
It means a CDMA players like Reliance can also operate GSM services and get the required spectrum from the government within the same licence. Earlier, they were allowed spectrum either for CDMA or for GSM within the licence. However, now they have to pay an amount equal to the entry fee of a UASL licence (over Rs 1,680 crore for a pan-India licence) to get the spectrum as recommended by the Telecom Regulatory Authority of India.
After heading the apex body for six years, and being instrumental in placing the Indian IT industry on the global map.
The release of Vista came more than five years after the introduction of Windows XP. It contains numerous new and reworked features.
Shyam's application comes even as real estate major DLF Ltd confirmed on Wednesday that it will apply for telecom licences by Friday, the fourth real estate company to do so in the recent past.
The finance ministry's proposal to increase equity exposure of non-government provident funds and superannuation funds from 5 per cent to 10 per cent may benefit only the high income group category and subscribers of the New Pension Scheme.
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
Torrent Power (up 19.25 per cent) and GVK Power and Infrastructure (up 12.22 per cent) have seen a dramatic rise in the run up to PGCIL issue.
Reliance Communications has received approvals from Maharashtra and MIDC for its proposed 45-acre special economic zone.
The bank has agreed to provide up to $1 billion to Tata Steel's special purpose vehicle, Tata Steel UK, to refinance $7.2 billion of bridge loans taken for the biggest buyout by an Indian company.
The Internet service policy unveiled on Saturday is likely to hit the industry hard. It may wipe off small and medium players in the country.
The ban, although described as temporary, is being seen as a knee-jerk reaction by the state government following the attacks on Reliance Fresh and Spencer's stores and has raised several questions over its farm policy.
According to Krishi Bhawan officials in New Delhi, due to the well-distributed rainfall this monsoon, kharif production is set to rise perceptibly and consequently the net sown area will also increase.
The country's leading music companies are grappling with a new problem: how to sell their music. Sale of cassettes and CDs are on the decline, while online sales have been severely undercut by free downloads.
Sajjan Jindal-promoted JSW Steel on Tuesday announced the acquisition of Jindal United Steel Corporation, Saw Pipes USA and Jindal Enterprises LLC
India has asked its top geological agency to explore additional reserves of 20,000 tonnes of gold and diamonds in several states in a bid to reduce the country's dependence on imported bullion.
After the Supreme Court order, the Central government has further made the multi-location research trials of new genetically modified crops tougher.
With prices of pulses playing a big role in the rising inflation rates in India, the government may allocate more funds for research in pulses development.
Stock investors can expect another rollercoaster ride on Dalal Street this week as the equity markets remain vulnerable to meltdown in the US sub-prime mortgage
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