Buy back shares by a company by way of capital reduction - treatment in the hands of shareholder
In case the Co has credited an amount in our bank towards the Capital reduction of equity shares held by us (by way of buy-back), then what is the treatment of tax in our hands as an individual shareholder? Is there any LTCG Capital gains Tax in our hands assuming that these were old shares purchased by us prior to 31.01.2018? Kindly note that since this is a direct Buy back by the Co therefore there is no STT paid by the Co. So basically seeking clarification as to whether there will be any LTCG tax in this case. If No - then will it be shown as Exempt income under our IT return? If Yes, then where must it be shown in the ITR; under CG schedule or under 112AD schedule of the ITR ?
Asked 24 days ago in Capital Gains Tax
Within what time a returning Indian (being an NRI earlier) holding a house property outside India should sell his/her house property held abroad so as to not to attract any Capital Gains tax? If there is a loss on sale of the HP (after he has returned back to India) can this be claimed as a Long term Capital Loss in the ITR to be set-off against any LTCG?
Asked 24 days ago