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1. Vinit   I Like It. |Report Abuse|  Link|March 1, 2016 4:35:52 PMReply
I am NRI since 2015, living in Middle East and my company has vested ESOPs to me in India.
I want to claim ESOPs while living in Middle East to avoid perquisite tax. I currently have ICICI trading and demat a/c on residential status.
After coming to Middle East, I also opened NRE a/c with Union bank of India. As per RBI, it is mandatory to have NRE a/c and demat with NRI status to avoid perquisite tax on claiming of ESOPs. With this background, I have 2 queries:
1)      Can I claim ESOPs with funds from NRE a/c and ESOPs transfer to existing demat a/c on residential status and still avoid perquisite tax. If yes, what are the possible future implications? e.g. while selling etc. Just to note that, my company says that while transferring ESOPs, they only check source of funds and not the status of demat a/c.
2)      If demat and trading a/c on ‘NRI’ status is required to be opened, with whom should I go for? What is the fastest way to complete things? Please note that, I have time till March- 2016 only.