Taxability of ESOP up to 31.03.2000

SUMMARY OF CASE LAW In respect of shares acquired under stock option scheme, the difference between the price of shares at the time of exercise of option and the predetermined price is liable to tax as perquisite under s. 17(2)(iii) up to 31st March, 2000. RELEVANT PARAGRAPH 13.1 The undisputed facts in this case are that the assessee was granted a right by way of a warrant to acquire shares of Zee Telefilms Ltd. on 01-02-1999 on the payment of Rs. 212 per shares, which is admittedly much below the prevailing market rate. The terms and conditions of such allotment of the right is given in the ...