ESOP Salary vs Capital Gain

FMV - Exercise Price = Taxable under salary

FMV will be considered as cost for capital gain

On sale of shares :

Sale Consideration
( FMV on the date of sale)

- Cost (FMV on the date of exercise)
----------------
Capital Gain
-----------------

Hope this is correct.

Whether employee get tax refund on ESOPs in the year of exercise of ESOP ?