SUBMITTED BY:-

Surbhi Jaitley

Indian tax authorities on Friday asked Vodafone to pay Rs 11,218 crore ($2.53 billion) tax on its 2007 purchase of Hutchison Whampoa Ltd's mobile business in the country.

The tax demand is to be paid within 30 days of the receipt of the notice of demand.

Vodafone argues that only the 15% is subject to tax

Tata Motors-owned Jaguar Land Rover launched the armoured range of its Range Rover and Discovery sports utility vehicles, with indicative prices of Rs 4.75 crore and Rs3.75 crore respectively.

The company is also looking at launching the armoured version of Jaguar XJ sedan, which could be priced around Rs 5.5 crore.

Currently working on assembling some products from Land Rover in India in order to meet demands in India.

After jets, yachts and luxury holiday homes, Indian billionaires are now picking up another acquisition to flaunt - sun-soaked, palm-fringed islands in the Caribbean and the South Pacific.

Though no one is disclosing names yet, five deals are understood to have been struck from India in recent months.

Micromax launched a touch screen smartphone, modu T, in partnership with Israel-based modu Limited to tap the "aspirational" segment of the consumers.

The 3.5G modu T was awarded the Guinness World Record for being the lightest touch phone in the world.

Priced at Rs.12,000, the 2.2-inch touch screen phone will be available in the market with pre-bundled 2GB memory card