INDUSTRY representatives have recently submitted representations to the finance minister, urging a reconsideration of new taxation rules concerning the buyback of shares. The 2024 Union Budget imposed up to a 39% tax on shareholders who sell their shares back to the companies, treating this transaction as dividend income.
Previously, companies would face a buyback tax of 23%, but new provisions have shifted tax burden onto individual shareholders, which the industry claims to be unfair and inequitable. Experts argue new tax rate is disproportionately higher as gainst long-term capital gains tax (LTCGT) of 12.5% and short term capital gains tax (STCGT) of 20%, which apply when shares are sold to other buyers.
Bu hikaye The New Indian Express dergisinin August 17, 2024 sayısından alınmıştır.
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Bu hikaye The New Indian Express dergisinin August 17, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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