FBT - Fringe Benefit Tax

FBT - A serious abuse to the IncomeTax Department..Thats what i feel! (Abuse from All the employees who have their Selling price far less than FMV at which tax is calculated by FORCE). Many abuses hit the IncomeTax Department this year from many IT Gaints who give shares to their employees in the form of ESOP (Employee Stock Option Plan), ESPP (Employee Stock Purchase Plan), RSU (Restricted Stock Unit). When there is no degree  of change in terms of paying taxes as compared to last year, why does the street smart Chidambaram wants to play it back and forth introducing his highly intellectual patentable idea of FBT where the Govt. collects its taxes on every year instead how it used to be earlier (the year in which you sell your stocks). There has been no change in the policy, Govt. is not benefited out of this. Employer is not benefited out of this. The only hit is on the employees. Its a hard hit though.

oye sameer thera kitna aaya hai? 37 thousand tax (one time payment)... Oye nisheet thera kitna aaya hai? 48000, Oh my god - i have to pay 3 lakh tax in a month? Ram screams it loud!! No body knew what was happening until the FBT Concept was made clear. Even though you dont exercise your stocks (except ESOP), pay your tax and then off-set it if you have a capital loss!! Chidambaram likes - "Show me your nose?", "everyone else who pays FBT shows their anger"!! Hard-policy that benefits NO-ONE but causes pain for EVERY-ONE..thats FBT.

Hush Holi @ Adobe - This time..

It was last year, The festival of colors hit the cafeteria and most of the employees of bangalore were all infomed about the buzz a day in prior. Extremes of Holi were seen, every one getting on the others. ESCAPE committe, recreational forum @ office speaks it out to every one. Junta enjoyed it the most, twirling on the floor mudded with holi... the rangoli hitting the floor... swinging your bakra pal and throwing him away... shouting at the top of your voices... "who are you.. Do i know you?".. Charles there, i couldnt identify him on his holi disguise. Everything happened right within the campus. For those who didnt play it even on request, their desks were the victims..

Prema (Facilities Incharge) and Ramesh (Director of Products), investigated and found that a lot of damage has already happened :) well, thats what happens when you play it in-door... The carpet colors changed from green to pink everywhere... Symbols of Congress (Hand) at important locations... Loo was everyone's favourite too. Well, it ripped it off this time. No Holi with-in the campus. Not even a single email wishing for the festive. The consequences are severe and no body is accountable for it... And this is what happens. You get a day off and no-one even realizes until they ask the next fellow. A festival of shout and colors has turned into a grave-yard... One of the sad days though !!

Happy holi... Hope you will enjoy it and dont forget to "Add Color to your life" (Manmadhudu- Revelon)...

Adobe share rocks over-night...

It has been a real hard-time for many IT companies these days succumb to the wave started in the marked - US Recession. While, i am one of the worst hit while i saw all of it happen ... Adobe Share was at 48$ its all time 52Wk high couple of months ago. Not so soon, the declining started and it never ended. Adobe hit its low somewhere around 30$. A loss of 18$ due to recession in share price making the 25b$ company a 17b$ or less?

And it strikes back again. Creative solutions, Photoshop, Acrobat, Mobile everything rocked. Posting a very strong quarter revenues - 52% higher than expectations of wall-street. Net income for the quarter ended Feb. 29 rose to $219.4 million, or 38 cents a share, from $143.9 million, or 24 cents a share, in the year-earlier period. Meanwhile, revenue rose to $890.4 million from $649.4 million

Hitting an over night high from 31$ to 36$ (a whopping 5$ high) was really pleasing. Way to go.. keep going..

Blore Autos & Pollution - synonyms?

The Auto's are fine. They are large in number. But their tails are always on fire. The Auto Engines are made up of Cigar, the more you raise the accelerator the more you smoke it out.. Its good for the person driving it or sitting inside the auto, but its really tough for a lot of people behind your auto and then entire bangalore is smoked up with your a$# fired up like this. While increasing traffic is one side of the problem, the other side of it is the negligence of the auto drivers to do the pollution check, they smoke it up everywhere.

       Its tough to get halted at a signal where the auto's standing before you fart so loud with a CLEAR white gas ejected out and the auto-driver feels proud - He has won a battle victory and thats why they call it - "Namma Bengalooru"... How should govt. make sure the old meters are gone and new digital meters are inside every auto? Be it Chennai, Bangalore, Hyderabad or else where in india. This is another side of the problem. Why cant Govt. announce free digital meters (donate free digital meters) and make it mandatory? I am sure the auto-guys all go on strike the next day !! whatever it is, atleast compared to the other cities i have seen, bangalore's auto are just way ahead in terms of contributing their best to pollution.