BuyBack of Shares - STCG
This query is : Resolved
28 July 2024
Hello,
I have profit on the buyback of shares by the company and It is a short-term gain.
The details as per Demat A/c:
Buy value: 8 qty x 362.9 price=2,903.2
Sale value: 8 qty x 445 price = 3,560
Realized buyback p&L = 656.8
And details as per AIS:
Sale value: 10qty x 445 =4,450
Cost of acquisition: 3,629
FMV:3,046.50
My question is what amount is included in STCG ?? The AIS and demat a/c show different figures what should I do?
I have profit on the buyback of shares by the company and It is a short-term gain.
The details as per Demat A/c:
Buy value: 8 qty x 362.9 price=2,903.2
Sale value: 8 qty x 445 price = 3,560
Realized buyback p&L = 656.8
And details as per AIS:
Sale value: 10qty x 445 =4,450
Cost of acquisition: 3,629
FMV:3,046.50
My question is what amount is included in STCG ?? The AIS and demat a/c show different figures what should I do?
28 July 2024
Buy Back Tax is levied at the level of the company, the consequential income arising in the hands of shareholders is exempt from tax, as per Section 10(34A) of the ITA.
Declare it as per AIS report in Schedule EI.
Declare it as per AIS report in Schedule EI.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- EPF FULL & FINAL RULES IN 2026
- Management System (IMS)
- Condonation . E-Verification of last year return .
- Rental income gst and it purpose
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Eway bill generation from place other than registeted
- FTS Taxable under 115A
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
