Tax on Buyer at time of repurchase of share.
This query is : Resolved
bharat_ca2008
(Querist)
06 August 2010
My client is pvt ltd company and it has been alloted share to other pvt ltd co. B4 1 year, now they wants to repurchase that shares from other pvt ltd co. Share alloted @ Rs. 100 each of face value of Rs. 10 and repurchase value is Rs. 10 each in the current date means 1/8/2010.
Is there buyer liable to pay tax on deferent between book value (Rs.100) and
repurchase value (Rs.10)? Give me also Income tax Section No.
Is there buyer liable to pay tax on deferent between book value (Rs.100) and
repurchase value (Rs.10)? Give me also Income tax Section No.
Aditya Maheshwari
(Expert)
06 August 2010
Duplication
https://www.caclubindia.com/experts/tax-on-repurchase-of-share-after-31-05-2010-452560.asp
https://www.caclubindia.com/experts/tax-on-repurchase-of-share-after-31-05-2010-452560.asp
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