Income tax on short term gain

u are liable to  pay income tax on selling of buyback offer.taxability depend upon holding period(date of sale-date of gift received)

generally if date of buy back is far away for more than 12 months from date of gift,it is long term cpital gain and pay tax @ 20% on gain otherwise it is long term capital gain and taxed @ normal rates

u are again liable to pay tax on share certificates received from ur uncle if he is not relative as gift received from relative is not taxable.this is taxed under the head of income from other soures and taxability @ normal rates applicable to assesse

u can avail benifits of 80c,80ccc,80cce,80cf erc

Tax will not be applicable in your case.

Your uncle is covered u/s 56.

Your uncle can gift you - exempt

you gift your uncle - taxable in the hand of uncle

refer section 56(2).