"25 October 2007" Archive

SEBI announces new Promissory Note policy

M Damodaran, Chairman, Sebi, while addressing the new policy on P-notes said that this is not a board meeting to decide on a single issue. He said the stock exchanges would be mandated to onstitute a committee chaired by a non-executive member of a concerned exchange to focus on surveillance. This, he feels, would make the market a safer ...

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Posted Under: SEBI |

Tax implications of offshore derivative instruments

Will the proposed review of foreign institutional investor (FII) regulations about issuance of ODIs (offshore derivative instruments) have any income-tax implications in India for the foreign investors? The answer appears to be in the affirmative."The proposals may lead to tax cost for the overseas investors and these investors will have ...

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Posted Under: SEBI |

Five key issues in FBT guidelines on ESOPs

As you may be aware, the Finance Act, 2007 amended the provisions of the Income-tax Act, 1961 to provide that employers will be liable to pay FBT (fringe benefit tax) on the value of ESOPs granted to employees as and when the ESOPs were allotted or transferred to the employees. The value of ESOPs for the purposes of levy of FBT shall be t...

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Posted Under: SEBI |

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