Buy back of listed shares, exempt to promotors ?

If they are listed shares than there will be no exemption under section 46A to any shareholder

Long term gains on shares are exempted. Please check whether it is long term capital gains.

Where a shareholder or a holder of other specified securities receives any consideration from any company for purchase of its own shares or other specified securities held by such shareholder or holder of other specified securities, then, subject to the provisions of section 48, the difference between the cost of acquisition and the value of consideration received by the shareholder or the holder of other specified securities, as the case may be, shall be deemed to be the capital gains arising to such shareholder or the holder of other specified securities, as the case may be, in the year in which such shares or other specified securities were purchased by the company.

Further, as per section 10(34A) income arising to shareholder on buy back by such unlisted domestic company shallc be exempt in hands of shareholder.

provided further, that unlisted domestic company distributing income by way of buy back shall be liable to pay additional income tax @ 22.66% of such distributed income.

Hope this will help u

Harshit

+918955737073