Insights
Private Markets Intelligence
Guides on ESOP taxation, cap tables, secondary transactions, and India's private market ecosystem.
How to Structure ESOPs to Reduce Employee Tax Burden in India
For most Indian startup employees, the tax bill at ESOP exercise is the single biggest surprise of their equity journey. They expected a reward they got a liability. A large
Pre-Money vs Post-Money ESOP Pools: What Founders Must Understand Before Raising Capital
Of all the cap table conversations that catch Indian founders off guard, the pre-money versus post-money ESOP pool debate is the most consistently misunderstood. Most founders arrive at a term
Unstructured ESOPs Can Create a Tax Bomb: What Indian Founders Must Fix Early
Most Indian startup founders discover their ESOP problems at the worst possible time: during a Series A due diligence, when an employee resigns and asks about their options, or when
Salary vs ESOP: How Indian Founders Should Structure Early Employee Offers
Every early hire at an Indian startup eventually asks the same question: how do you balance cash against equity? Most founders wing it — they offer the equity that sounds good
What is Authorised Capital?
What is Authorised Capital in a private company? Authorised capital (also called authorized share capital or nominal capital) is the maximum amount of share capital that a company is legally
What is Paid-Up Capital?
Paid-up capital is the actual amount of money that shareholders have paid to the company in exchange for shares, representing real cash (or assets) received by the company. For example,
Stamp Duty on Unlisted Share Transfer: State Rates & Payment Guide (2026)
What is the Stamp Duty on Share Transfers in a private company? Stamp duty on unlisted share transfers ranges from 0.10% to 0.50% of transaction value depending on
What is Rule 11UA Valuation for Unlisted Shares under Income Tax Rules, 1962?
What is Rule 11UA of Income Tax Act? Rule 11UA is the income tax regulation that determines Fair Market Value (FMV) for unlisted company shares in India. It mandates that
What is Form No. SH-4 (Share Transfer Form) Under Companies Act 2013
Form SH-4 is the mandatory share transfer instrument prescribed under Section 56 of the Companies Act, 2013 that must be executed whenever unlisted company shares change ownership through sale, gift,
How to Declare Unlisted Shares in ITR: Complete Guide for FY 2026-27
Unlisted share transactions must be reported in ITR-2 (for salaried individuals and investors) or ITR-3 (for business owners) using Schedule CG (Capital Gains). Long-term capital gains from unlisted shares held
Startup Equity Secondaries: How to Actually Sell Your Unlisted Shares in India in 2026
Most people think "liquidity" only happens when a company IPOs. They are wrong. If you are sitting on vested ESOPs or early equity in a private company, you
Step-by-Step: How to Fill Schedule CG for Capital Gains on Unlisted Share Sales
Schedule CG (Capital Gains) in ITR-2 or ITR-3 is where you report all unlisted share sales. Short-term capital gains (holding period ≤24 months) are reported in Section A5 under "