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Entry journal

This query is : Resolved 
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(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
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
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
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