Mumbai ITAT Rules on ESOP Shares: FMV as Cost of Acquisition

Mumbai ITAT clarifies that the fair market value (FMV) on the ESOP exercise date can be considered the cost of acquisition for sold shares. A UK-based employee reported a ₹1 lakh short-term capital loss after selling 1,540 ESOP shares for nearly ₹26 lakh. This ruling is significant for expatriates dealing with ESOPs and tax implications in India.

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