In respect of shares acquired under stock option scheme, the difference between the price of shares at the time of exercise of option and the predetermined price is liable to tax as perquisite under s. 17(2)(iii) up to 31st March, 2000.
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Norms for preferential allotment of equity warrants are learnt to be back under the regulatory scanner, following complaints from institutional investors that this instrument is being misused by promoters.
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