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of <h1>Amendment to Section 46A: Shareholder Buy-Back Consideration Deemed Nil for Tax, Effective October 2024.</h1> Clause 18 of the Finance (No. 2) Bill, 2024, proposes an amendment to section 46A of the Income-tax Act, impacting capital gains from a company's buy-back of its own shares or specified securities. Effective from October 1, 2024, the amendment introduces a proviso stating that if a shareholder receives consideration as described in section 2, clause (22), sub-clause (f), for a buy-back occurring on or after this date, the value of such consideration will be deemed nil for tax purposes. This affects the calculation of capital gains for the shareholder in the relevant tax year.
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