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of <h1>Union Budget 2024-25: Buy-Back Payments to Be Taxed as Dividends, Effective October 2024; Capital Loss Offsets Allowed.</h1> The Union Budget 2024-25 introduces amendments to tax the distributed income from the buy-back of shares by domestic companies. Previously, the Finance Act, 2020, eliminated the dividend distribution tax (DDT), leading to calls for buy-back payouts to be taxed similarly to dividends. The new provisions propose treating buy-back payments as dividends in shareholders' hands, subjecting them to income tax at applicable rates without expense deductions. The cost of acquisition for bought-back shares will result in a capital loss, which can be offset against future capital gains. These changes will be effective from October 1, 2024, impacting buy-backs from that date onwards.
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