Tax on Buyback of Shares
This query is : Resolved
Proloy Samaradivakera
(Querist)
14 January 2022
I have bought shares of TCS in year 2008. TCS is coming out with a share buyback scheme and has announced it on 13Jan22. If I participate in the share buyback scheme and sell my shares through this facility, do I have to pay any capital gains tax? Or the full proceeds, irrespective of the amount is fully exempt from any tax at the hand of the shareholder?
Dhirajlal Rambhia
(Expert)
14 January 2022
Yes, fully exempt to shareholders u/s. 10(34A) of IT act...
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