Tax implications on sale os esop shares

Hi one of my client had received the shares in a company (shares listed in NYSE) in Dec, 09. But, assessee has sold the same in July, 10 and received the net sale  proceeds after deduting tax @ 30.9%. Should I pay tax now including in short term capital gain or do we have DTAA with US to avoid tax on this.

Some other relevant data:

1. Cost of purchase is zero

2. assessee has not yet repatriate the funds to india

Regards

Lakshmi Devanand