On June 27, 2008, Microsoft chairman Bill Gates will withdraw his “day to day” duties of the world’s largest software company that he co-founded, along with Paul Allen, in 1975 — – But he would remain Microsoft’s Chairman, adviser – and its largest single shareholder.

After July 27 he will focus mainly on the Bill and Melinda Gates Foundation and its work in health, vaccines, education and more. Founding “MicroSoft” with his friend and fellow billionaire Paul Allen in 1975, the story of Microsoft’s success is legendary.

“I’m not leaving Microsoft,” Gates said, he had no plans to give up the distinction of being the company’s largest shareholder.

The move will end an era at Microsoft, which Gates founded.

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The Comission of Indian Income Tax Appeals, has asked Gracemac Corporation, a Microsoft subsidiary, to pay over Rs 700 crore(7 billion rupees) as tax on income earned through royalties on products ( between the assessment years 1999 to 2005).

Accordingly to sources, Microsoft’s estimated tax liability on royalty stands at Rs 700 crore, including interest.

Microsoft has released a new version 6.1 of its Windows Mobile operating system at CTIA Wireless 2008. Windows Mobile 6.1 features a new mobile Internet Explorer browser and Adobe Flash capabilities.

One of the big new features for the platform will be the addition of a new mobile Internet Explorer browser that will let users view full Web pages rather than mobile-optimized pages, and to also give them the ability to pan and zoom around pages.

Microsoft says Windows Mobile 6.1 will help people stay better connected to the individuals and information they need most, anywhere and anytime.