Difference Between Allotted and Market Price of ESPS Shares Not Taxable as Perquisite u/s 17(2)(iiia) of Income Tax Act: Delhi HC [Read Order]

Value of shares allotted under employee stock purchase scheme not a perquisite u/s 17(2)(iiia) of Income Tax Act
By Aiswarya Krishnadas - On August 18, 2024 10:42 am - 3 mins read
Income Tax - Income Tax Act - Delhi HC - ESPS - Employee Stock Purchase Scheme - TAXSCAN

The Delhi High Court emphasized that no tax could be levied on notional income, ruling that the Valuation Report obtained by the employer was inapplicable to shares subject to a lock-in stipulation and thus not sellable in the open market; consequently, the Court held that the difference between the allotted price and the market price…

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