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Buy Back of Shares

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  • Buy Back of Shares

    Buy-Back of Shares attract no tax in the hands of shareholder since Companies (now both listed & unlisted) are liable to Tax. At present buyback of shares have to be entered in MProfit as a sale of shares and therefore these transactions would appear in Report on Capital Gains for Tax purposes. The investor could mistakenly include this in his Tax return in Capital gains and pay tax on the same. In order to avoid this, I suggest that Buy-Back of Shares may be made a separate category to enter in MProfit apart from a sale. This would enable proper reflection in Capital Gains for Tax purposes in MProfit (may be shown in Capital Gains for Tax purpose Report but with a remark that no capital gains to be included in tax in view of the transaction being buy-back of shares but to include the same in exempt income).

  • #2
    Dear Kamlesh Vikamsey,

    Thank you for your suggestion. We will forward your feedback to our concern team.


    • #3
      This is much needed.