Hi to all,
I was awarded ESOPs by my company in 2009 at rupees 240/share. (total 4000 shares)
It carried a locking period of 3 years. Recently I exercised the ESOPs at 329/share. Tax also paid for this assumed profit of 89/share i.e about 1.10 lakhs (perquisite tax rate considered as 30.9%)
But due to the market fluctuations I could able to vest the ESOP at an average price of 324/share. Shares were in the demat account for about 25 days only. So I paid an excess of 6100 rupees more than I suppose to pay as perquisite tax.
Can I get any exemption for this excess payment.
My taxable annual income is 11 lakhs. (only salary, no other income).
I am a 26 years aged male.