Taxation on ESOPs of a foreign company sold abroad
This query is : Resolved
04 October 2007
Respected Sir / Madam.
Off late many MNC's are issueing ESOPs for their Indian employees. Such Indian Employees also frequently travel abroad mainly in the IT industry. Assuming that such employee of the Indian Company has been alotted with shares of its parent company in USA (Say after 01-Apr-2007). Now that the employee is travelling to USA wants to sell the shares and wants to bring the sale proceeds to India. We do know that FBT is levied. What are the other legal means of bring back the sale proceeds to India. Can he bring by cash? If So what is the limit of such cash transaction (Taking into account FEMA regulations also). What other documents are required from the Income Tax point of view to pay the differencial tax arising out of Gain on sale of shares?
Off late many MNC's are issueing ESOPs for their Indian employees. Such Indian Employees also frequently travel abroad mainly in the IT industry. Assuming that such employee of the Indian Company has been alotted with shares of its parent company in USA (Say after 01-Apr-2007). Now that the employee is travelling to USA wants to sell the shares and wants to bring the sale proceeds to India. We do know that FBT is levied. What are the other legal means of bring back the sale proceeds to India. Can he bring by cash? If So what is the limit of such cash transaction (Taking into account FEMA regulations also). What other documents are required from the Income Tax point of view to pay the differencial tax arising out of Gain on sale of shares?
27 September 2009
If this query is still pending then please post it again by updating......Good wishes.....or you can also send me a PM.
27 September 2009
If this query is still pending then please post it again by updating......Good wishes.....or you can also send me a PM.
Otherwise it is already resolved.
Otherwise it is already resolved.
01 August 2010
Resolved.....
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