Respected Members,
Can you please let me know the taxability on ESOP on stock. of Foreign Unlisted Company?
E.g. X has 500 shares under ESOP in the year 2005 a price of $0.50 cents which he received when working under the subsidiary company in India. Now the foreign compay is buying back the shares at US$ 3.00 per share.
The foreign company would remitt the full amount withouth deducting any tax.
Would there be a tax liability for X when he receives the amount in India in the year 2012?
If yes, under what section & what would be the tax rate?
Please advice
Many thanks
Warm Regards
Ramesh
