New share buyback rules from October 1, 2024: A higher tax for many, but these people will gain

New equity buyback rules: July Budget 2024 amended the income tax laws on how share buybacks are taxed. The new laws announced in July will be effective from October 1, 2024. The new laws tax the share buybacks in a similar fashion as dividends are taxed now. The new income tax laws will impact most taxpayers negatively. However, certain taxpayers will gain as well.

from Tax-Wealth-Economic Times https://ift.tt/8tYI5GT