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of <h1>Companies Reclaim Shares Through Strategic Buy-Back Mechanisms, Navigating Complex Tax Regulations and Statutory Compliance</h1> A buy-back refers to a company's purchase of its own shares in accordance with legal provisions. The process involves specific regulatory frameworks under the Companies Act and Income Tax Act. Taxation of buy-back transactions was clarified through amendments in 2000, excluding buy-backs from dividend definitions and treating them as capital gains. After buy-back, shares are destroyed, rendering certain tax provisions inapplicable, with the primary intent being to provide legal clarity and avoid unnecessary litigation.
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