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Capital gains on share buy-back trigger deemed taxation, with additional income-tax for promoter holdings under specified conditions. Capital gains arise when a shareholder or holder of other specified securities receives consideration from a company for the purchase of its own shares or specified securities. Subject to section 72, the gain is the difference between the cost of acquisition and the consideration received, and it accrues in the year of purchase. Where the buy-back is in accordance with the Companies Act, 2013 and the shareholder is a promoter, additional income-tax applies at rates linked to the nature of the capital gain and the promoter's status.
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.
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<h1>Capital gains on share buy-back trigger deemed taxation, with additional income-tax for promoter holdings under specified conditions.</h1> Capital gains arise when a shareholder or holder of other specified securities receives consideration from a company for the purchase of its own shares or specified securities. Subject to section 72, the gain is the difference between the cost of acquisition and the consideration received, and it accrues in the year of purchase. Where the buy-back is in accordance with the Companies Act, 2013 and the shareholder is a promoter, additional income-tax applies at rates linked to the nature of the capital gain and the promoter's status.
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