Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Capital gains on company buyback: shareholder's consideration deemed nil in specified buy-back cases, affecting taxable capital gain. Capital gains arise where a company purchases its own shares or specified securities from a shareholder: the difference between cost of acquisition and the consideration received is deemed to be capital gains in the year of purchase, and where consideration of the prescribed buyback kind is received under the recent amendment it shall be treated as nil for computation; specified securities is defined by reference to company law.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital gains on company buyback: shareholder's consideration deemed nil in specified buy-back cases, affecting taxable capital gain.
Capital gains arise where a company purchases its own shares or specified securities from a shareholder: the difference between cost of acquisition and the consideration received is deemed to be capital gains in the year of purchase, and where consideration of the prescribed buyback kind is received under the recent amendment it shall be treated as nil for computation; specified securities is defined by reference to company law.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
