Consideration deemed nil for certain buy back receipts, changing tax treatment of shareholder consideration under section 46A. Where a shareholder receives consideration of the nature specified in the statute from a company for a buy-back that takes place on or after 1 October 2024, the value of that consideration shall be deemed to be nil for the purposes of section 46A, thereby excluding such specified buy-back receipts from valuation under section 46A.
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Provisions expressly mentioned in the judgment/order text.
Consideration deemed nil for certain buy back receipts, changing tax treatment of shareholder consideration under section 46A.
Where a shareholder receives consideration of the nature specified in the statute from a company for a buy-back that takes place on or after 1 October 2024, the value of that consideration shall be deemed to be nil for the purposes of section 46A, thereby excluding such specified buy-back receipts from valuation under section 46A.
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