I am entitled to 150000 of a Delaware Company’s Class C Common Units. I have not made an election u/s 83(b). I had been providing my services from India to a bermuda exempted company being an wholly owned subsidiary of the Delaware Company. Vesting date is as follows: effective date (Oct2011) 20% next vesting date (Dec 2012) 40%.
Now in September 2013 – I am credited with the cash equivalent of my units that has become vested. please let me know how this would be taxed for AY 13-14. Nothing has been offered for tax in the previous assessment years in India.