Hi All,
what shold the tax slab for stocks sold in Foreign Exchange (Unlisted company as per Explanatory note given by GOI on CIRCULAR NO. 9/2007, DATED 20-12-2007).
Employee should pay tax on = No_of_shares * ( "Sold Price" - "FMV")
Will the Short (10%)/Long term (0%) Tax calulations hold good, or is it flat 30% + surcharge + education cess or is it as per our tax slab?
Thanks,
Siva Kumar Jujaray
If the shares are alloted in ESOP then capital gain attracted. and the period of holding will be computed in the manner specified in Act and also the taxability will be 10% if short term capital gain otherwise flat rate 20%. Read section 47 of IT Act, 1961.
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