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Global Rewards Update: India - August 2009

The Finance Act 2009 receives final approval

On August 2009 Presidential assent was received for the Finance Bill 2009 following approval by Parliament earlier this month. The act, which abolishes Fringe Benefit Tax (FBT) and reinstates income taxation on equity awards, is effective retroactively to shares allotted or transferred (i.e. acquired) as of 1 April 2009.

This communication is a further update to the India Global Rewards Update released in July 2009.

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