buy back shares sale considerations and cost of acquisition in capital gain schedule

This query is : Resolved

Vivek Desai (Querist)
Follow

30 June 2024 Whether Buy back shares full value consideration and cost of acquisition is required to include in capital gain schedule? If yes then how tax exemption shown in EI schedule will get reduced from total gain offered for taxation in capital gain schedule.
OR only profit is to be reported in EI schedule & No sale consideration , cost of acquisition is to report.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

30 June 2024 No to report it in Schedule CG. Report only gain in Schedule EI.

Vivek Desai

Vivek Desai (Querist)
Follow

01 July 2024 Buy Back shares not reporting in CG schedule will mismatch create with AIS and Broker’s PnL statement. Profit can be shown in EI schedule However, providing feedback ‘Income is not taxable’ in AIS against buy back shares transactions, total sales consideration figures found not changing. Will there be any problem while Assessments.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

01 July 2024 No problem would arise, as the transaction is not taxable.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Krishna Kumar A

Sreerama Reddy

Sabyasachi Mukherjee

Sameer

HITESH NIRANJAN SAHU

Subscribe Now

buy back shares sale considerations and cost of acquisition in capital gain schedule

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANT

Accountant

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY