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Perquisites - Value of Any Specified Security / Sweat Equity Shares allotted or Transferred to An Employee or Former Employee Rule 3(8)

Perquisites - Value of Any Specified Security / Sweat Equity Shares allotted or Transferred to An Employee or Former Employee Rule 3(8) - Income Tax - Salary Income - 27 - The value of any specified security or sweat equity shares allotted or transferred, whether directly or indirectly, by the employer or former employer, Free of cost or at concessional rate to the assessee. Meaning of relevant terms 1.The security or shares involved are specified security or sweat equity shares . For this purpo .....

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pany or other body corporate ; b. derivative ; c. security receipt as defined in clause (zg) of a section 2 of the securitisation and reconstruction of financial assets and enforcement of Security Interest Act ,2002; d. units or any instrument issued to the investors under mutual fund scheme ; e units or any other instrument issued by any collective investment scheme to the investor in such a schemes. f. Government securities ; g. such other instrument as may be declared by the Central Governmen .....

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ring April 2007 and 31-03-2009 , then employer is liable to pay Fringe Benefit tax under 115WB (1)(d). 3. Specified security or sweat equity shares are allotted by the employer or former employer to the employee . 4.Specified Securities or shares are transferred to the employee either free of cost or at a concessional rate . Consequences when the above conditions are satisfied - If the above conditions are satisfied, perquisite will be taxable in the hands of employee in the assessment year rele .....

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AS PER RULE 3(8) Situations When the share is listed on one stock exchange When the share is listing more than stock exchange Quoted Shares In a case where, on the date of exercise of the option, the share in the company is listed on a recognized stock exchange in India, the fair market value shall be the average of the opening price and closing price of the share on that date on the said stock exchange Where, however, on the date of exercise of the option, the share is listed on more than one .....

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