Buy back of shares -- profit taken as exempt income
This query is : Resolved
12 April 2024
as per income tax act -- buy back of shares - profit is taken
as exempt income
pls guide when there is loss in buyback of shares
how should we treat it -- as long term/short term loss
or otherwise
pls guide
THANKS
as exempt income
pls guide when there is loss in buyback of shares
how should we treat it -- as long term/short term loss
or otherwise
pls guide
THANKS
15 April 2024
Profit is exempt income in view of tax on it's paid by the company.
In case of loss it can be adjusted against short term/ long term capital gains as the case may be or carried over.
In case of loss it can be adjusted against short term/ long term capital gains as the case may be or carried over.
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