Entry journal
This query is : Resolved
Sanjay Budhiraja
(Querist)
06 December 2023
Sir
Pl tell the journal entry of buy back of shares by co in books of investor...
Is this buyback considered as taxable or not.
Regards
Pl tell the journal entry of buy back of shares by co in books of investor...
Is this buyback considered as taxable or not.
Regards
15 January 2024
The company purchasing its own shares is liable to pay BDT. The receipt of the buyback price by the shareholders is exempt from tax under Section 10(34A) of the Act. Since income is exempt, implication under Section 14A should be considered by the shareholders
https://gargicollege.in/wp-content/uploads/2020/03/buyback-of-shares-class-1.pdf
https://gargicollege.in/wp-content/uploads/2020/03/buyback-of-shares-class-1.pdf
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