In reference to amendments vide the Finance Act, 2009, the ESOPs has been made taxable in the hands of employees as ‘Perquisites’, subject to certain conditions. For the purposes of clause (vi) of sub-section (2) of section 17, the fair market value of any specified security or sweat equity share, being an equity share in a company, on the date on which the option is exercised by the employee, shall be determined merchant banker (if shares are not listed).