ESOP Tax for Employees when shares are sold in Foreign Exch

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