https://www.taxtmi.com/manuals?id=626 Buy-back under the Companies Act, 1956 is permitted only where authorised by the articles and effected out of free reserves, the securities premium account, or proceeds of shares, subject to board and/or special shareholder resolution and a statutory cap on aggregate buy-back quantum. Only fully paid-up securities qualify, post-buy-back debt-equity limits must be observed, capital redemption reserve transfers and balance-sheet disclosure are required where relevant, and a verified declaration of solvency must be filed before the buy-back. Consideration received by shareholders is chargeable as capital gains. en-us Sat, 02 Jun 2012 15:14:00 +0530 Thu, 07 Jun 2012 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=626 Buy-back under the Companies Act, 1956 is permitted only where authorised by the articles and effected out of free reserves, the securities premium account, or proceeds of shares, subject to board and/or special shareholder resolution and a statutory cap on aggregate buy-back quantum. Only fully paid-up securities qualify, post-buy-back debt-equity limits must be observed, capital redemption reserve transfers and balance-sheet disclosure are required where relevant, and a verified declaration of solvency must be filed before the buy-back. Consideration received by shareholders is chargeable as capital gains. Manuals Companies Law Sat, 02 Jun 2012 15:14:00 +0530 https://www.taxtmi.com/manuals?id=626