The Financial Express -- News

Friday, November 7 1997

Compaq elevates branch office to wholly-owned arm The $20-billion Compaq Computer Corporation, the fifth largest computer company in the world, has elevated its three-year old branch office in the country to a fully owned subsidiary. Headquartered at Gurgaon, on the outskirts of Delhi, Compaq Computer (India) Private Ltd, will henceforth be responsible for all activities of the company in the country.
Draft income-tax bill imposes 8% extra tax on tea companies Tea companies may soon have to pay an additional tax of over eight per cent with the deletion of Section 33AB in the working draft of the Income-Tax Bill, 1997. The section allowed the companies to deduct from taxable income 20% of their pre-tax profits, if the amount was deployed in plantation activities.	Diesel to cost less by five paise from November 7 Retail prices of high speed diesel (HSD) have come down by five paise in Delhi, Chennai and Calcutta and by six paise in Mumbai with effect from November 7. The centre decided to implement its decision on September 1, to revise diesel prices monthly, so that there was parity between domestic and international rates.
Telco to showcase sports car at Dubai show Two-wheeler sales skid 2.5%

Compaq elevates branch office to wholly-owned arm