ESOPS
Missed reporting of overseas bank accounts, ESOPs, and foreign assets in Schedule FA of ITR? FAST-DS offers a chance to come clean
There is an important caveat: the Black Money Act provides relief from Schedule FA penalty for certain foreign assets, other than immovable property, where aggregate value does not exceed Rs 20 lakh. Such taxpayers should first determine whether any penalty actually arises before opting for FAST-DS.
Round-tripping: How a company hands itself money and calls it your investment – fooling investors and regulators alike
Share capital looks like one of the simplest numbers on a balance sheet. A company issues a certain number of shares, investors pay for them, and the money becomes permanent capital of the business. But that simple equation can break in several places. Shares may be allotted before the full money arrives. Money may technically reach a bank account but remain unavailable to the company. Shares may even enter the market without properly forming part of the listed capital.
Vijay Shekhar Sharma's Rs 4 crore pay found 'materially below' peer median; Board recommends revision
Under the proposed structure, Sharma's remuneration will also include a variable component which will be performance-linked set by the NRC on achievement against predefined financial performance targets.
Deepinder Goyal reveals new Temple and you can soon pre-order it
Deepinder Goyal revealed his experimental Temple wearable is now significantly smaller. This device tracks cerebral blood flow and neurological markers. The company plans to start taking pre-orders for a limited edition soon. Shipments of the Temple wearable are anticipated before the end of 2026. Interested individuals can join the mailing list for future updates.
Whirlpool India to revive brand, sets sights on premium play: MD Narasimhan Eswar
Whirlpool India says it will operate independently despite its US parent retaining a 39.7% stake. The company plans to expand its premium portfolio, strengthen refrigerators and washing machines, and grow its air-conditioner business. Six senior executives have invested their savings in the company’s shares. Whirlpool also plans ₹245 crore investment in a new production line as it targets top-three positions across segments.
Suits & Sayings: The IPO Folklore
ET’s roundup of the wackiest whispers in corporate corridors
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Pharmeasy-parent’s loss narrows in Q1, revenue up 10%
API Holdings, parent of PharmEasy and Thyrocare, narrowed its Q1 FY27 loss to Rs 29.6 crore from Rs 145.4 crore a year earlier, while revenue grew 10% to Rs 1,754 crore. Ebitda turned positive at Rs 39.3 crore. The company also became debt-free after repaying Rs 1,050 crore.
Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to know
The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has moved from Budget proposal to implementation. This article explains its two categories, tax and fee implications, eligibility for resident and present non-resident taxpayers, the ₹20 lakh threshold, and key considerations for reviewing past foreign-asset reporting lapses under the Income-Tax Act, 1961 and the Black Money Act, 2015
Pharmeasy founder says failure to deleverage was key reason for debt saga
Siddharth Shah’s comments came a day after API Holdings repaid Rs 1,050 crore of debt, becoming debt-free after years of pressure on its balance sheet following the acquisition of Thyrocare. The repayment was funded through the sale of a 9.9% stake in Thyrocare, paring its holding to 51.02%.
Pharmeasy parent clears Rs 1,050 crore debt, frees Thyrocare stake from pledge
The debt repayment marks the latest step in API Holdings’ efforts to clean up its balance sheet after a difficult period struggling to raise capital and service debt. The company repaid the debt through proceeds from the sale of a portion of its stake in Thyrocare and internal accruals, it said in a statement on Monday.
UK based employee sold ESOP worth Rs 26 lakh, declared Rs 1 lakh short-term capital loss, Income Tax dept treated it as unexplained gains; He fights and wins case in ITAT Mumbai
UK-based Indian employee sold 1,540 L&T Infotech shares for Rs 26 lakh which he had acquired through ESOPs, declared Rs 1 lakh short-term capital loss; Tax dept treated it as Rs 29.59 lakh unexplained gains; ITAT Mumbai rules in employee's favour. Read the article to know why.
From gold and LIC policy to SIPs and crypto: How investment habits changed from Boomers to Millennials to Gen Z
Modern Indians are redefining investment strategies; rather than saving first, the youth now prioritise their financial goals before choosing investment products. This evolution shows a desire for financial independence, allowing individuals the liberty to make choices unburdened by financial strain. The advent of technology and improving accessibility to investment options has significantly enhanced wealth accumulation opportunities, indicating a broader trend of increasing incomes across the nation.
New-age firms' listing gains fade fast; IT deal renewal in focus
Happy Thursday! Some of the best-received new-age IPOs are now trading below their issue price, ET analysis shows. This and more in today’s ETtech Morning Dispatch.
Astrotalk announces Esop buyback at $1 billion valuation
Astrotalk has announced an employee stock option (Esop) buyback for more than 100 employees at a $1 billion valuation, funded from its profits. The Noida-based startup last raised funds at a valuation of $300 million in 2024. It has expanded beyond astrology into spiritual services and ecommerce, crossing a Rs 2,500 crore annualised revenue run rate.
Can Shiprocket IPO deliver long-term growth for high-risk investors?
Shiprocket is gearing up to secure ₹885 crore through fresh equity aimed at bolstering expansion and addressing debt obligations. Additionally, the company plans to raise ₹732 crore via an offer for sale. With a profitable core business and growing emerging segments, revenue has risen by 24% annually from FY24 to FY26. Investors seeking long-term growth opportunities with a higher risk appetite might find this venture appealing.
Delhivery shares plunge 4% as net profit tumbles 65% YoY. Why Nuvama still maintains Buy rating
Delhivery shares fell 4% after the logistics company reported a 65% YoY decline in Q1 FY27 net profit to Rs 32 crore, despite a 28% rise in revenue. Nuvama retained its Buy rating but cut the target price to Rs 570.
RBI's draft curbs on revolving credit may impact NBFC flexi loans: Morgan Stanley
The Reserve Bank of India's (RBI) draft directions proposing restrictions on revolving credit facilities offered by non-banking financial companies (NBFCs) could affect flexi and overdraft loan products across corporate, MSME and unsecured personal loan segments, according to a Morgan Stanley report.
India tops world in IPO count, ranks third in fundraising in FY26: SEBI Annual Report
India maintained its global lead in IPO numbers during FY2025-26. The nation secured third place worldwide for total funds raised through these offerings. SEBI implemented reforms to ease capital raising while protecting investors. These measures included restructuring public float requirements and extending shareholding timelines. The regulator also allowed founders to retain employee stock options for new companies.
Earnings from unexercised ESOP buyback is LTCG, not pay perk: ITAT
The Income Tax Appellate Tribunal ruled that vested ESOPs are not taxable as salary until exercised. It held that gains from Flipkart's repurchase of unexercised vested stock options are taxable as long-term capital gains, providing clarity on the tax treatment of ESOP buyback transactions.
Unexercised ESOP buyback gains taxable as LTCG, not salary income: ITAT
The Income Tax Appellate Tribunal determined that employee stock options are not considered part of salary perks until they are exercised. Any gains from the repurchase of options, which have not yet been exercised, are to be taxed as long-term capital gains. This case revolved around a Flipkart executive who received ₹2.33 crore from repurchased stock options, affirming that the options are treated as capital assets.
Maruti Suzuki Q1 profit drops 11% to Rs 3,352 crore amid rising input costs
Maruti Suzuki reported an eleven percent profit decline in the June quarter. Rising input costs, aggravated by West Asia hostilities, impacted profitability significantly. However, net sales climbed thirty-six percent to ₹49,959 crore during the same period. Unit sales also saw a strong twenty-nine percent increase, reaching a record 682,724 cars. The company also approved four compressed bio gas projects with a budget of ₹561 crore.
TPG, Permira emerge as frontrunners in Rs 11,000 crore Cloudnine sale
TPG Capital and Permira are leading contenders for a significant minority stake in Cloudnine. The deal is expected to value India's largest maternity and pediatric hospital chain at approximately ₹11,000 crore. Binding bids are anticipated by mid-August after due diligence is complete. This transaction will facilitate True North's full exit after over a decade of investment. Cloudnine posted ₹2,000 crore revenue and ₹300 crore Ebitda in FY26.
Zee shareholders approve Rs 3,143 crore promoter fund infusion, ESOP plan
Zee Entertainment shareholders have approved a Rs 3,143.5 crore preferential warrant issue to a promoter group entity, paving the way for higher promoter ownership of 23.79%. Investors also cleared the company's new ESOP scheme, aimed at boosting employee ownership as Zee strengthens its financial position and pursues future growth.
Reporting perquisite as capital gain in ITR by mistake resulted in Rs 6.63 crore penalty for a salaried employee; ITAT Mumbai granted him relief for this reason
Rs 6.63 crore penalty imposed on salaried employee for reporting perquisite as capital gains in ITR; ITAT Mumbai grants relief, says salaried employees may not be well versed in complex tax provisions. Read the story to know the full details.
Two proxy advisers split on Zee promoter warrant issue ahead of EGM
Two proxy advisory firms have issued contrasting recommendations for Zee Entertainment's upcoming shareholder meeting. InGovern advises rejecting a preferential warrant issue, citing governance concerns and dilution. Stakeholders Empowerment Services recommends approving all resolutions, stating regulatory compliance.
Pine Labs Q1 profit rises fourfold to Rs 20 crore; retains FY27 growth guidance
Revenue from operations rose 20% to Rs 736.9 crore from Rs 615.9 crore. The growth was led by its issuing and acquiring platform, which expanded 31%, while its digital infrastructure and transaction-processing business grew 15%.
Unacademy investors to get UpGrad board seat as Rs 1,955-crore merger nears close
UpGrad is acquiring Unacademy through an all-stock transaction. The Competition Commission of India cleared the merger on July 7, removing a key regulatory hurdle for the deal. Sources told ET that signing of the definitive agreements is nearly complete. Almost all the institutional investors have signed the share subscription agreement, while all the angel investors have executed their share purchase agreements.
More layoffs at Krutrim; PhonePe vs Paytm
Happy Tuesday! Ola’s AI startup Krutrim has conducted another round of layoffs, sources told us. This and more in today’s ETtech Morning Dispatch.
Deepinder Goyal's Temple eyes $500 million valuation as it prices debut wearable device at Rs 80,000
Deepinder Goyal-founded Temple is preparing for its next funding round at a higher valuation. Temple raised $54 million in February at a $190 million valuation from Peak XV Partners, Steadview Capital, Dharana Capital, Info Edge Ventures and more than 80 individual investors.
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