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of <h1>Tax on Employee Share Discounts Clarified: Section 17(2)(iii) Defines Perquisites When Shares Sold Below Market Value.</h1> The circular addresses the taxability of perquisites on shares issued to employees at below market price. It clarifies that such benefits are considered perquisites under section 17(2)(iii) of the Income-tax Act, 1961. No perquisite arises if shares are transferred by the government or offered to employees at the same price as other shareholders. If shares are offered to employees at a lower price than to the public, the price difference is taxable as a perquisite. If shares are offered exclusively to employees, the taxable perquisite is the difference between the market price at acceptance and the offered price. The circular urges wide dissemination of this information.
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