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Deadline for tax on Esops extended to Sept 15

Deadline for tax on Esops extended to Sept 15
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First Published: Thu, Jun 14 2007. 07 22 PM IST
Updated: Thu, Jun 14 2007. 07 22 PM IST
New Delhi: India has extended by three months the deadline for payment of the first instalment of fringe benefit tax (FBT) on employee stock option schemes, the finance ministry said in a statement on Thursday.
In the federal budget presented on February, the government proposed charging FBT on the value of shares or sweat equity allotted to employees by a company free or at concessional rates.
But, the tax authorities are yet to firm up the rules for valuation of such benefits.
Friday was the original deadline.
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First Published: Thu, Jun 14 2007. 07 22 PM IST