Hi how to show tender route buyback gains in ITR, profit comes under EXEMPT income or in others?
From my broker downloaded P&L REPORT they shown under capital gains they consider it as profit but tender rout buyback of listed shares have zero tax in the hands of investors.
1)Where to show tax free gains/profit in ITR under exempt income or other?
2)why brokerage report shown as capital gains why they consider it as profit(amount obtained by tender route buyback)
@Quicko can you please assist us with this query?
The buyback is exempt in the hands of the investor.
- The amount of Profit is Exempt and can be reported under the Exempt Income
- The brokers include in their report as the shares sold are capital gains for the broker, this is a tax reporting requirement. The report of the broker will show the profit as it is the actual profit made by the user.
Hope this helps.
Thank u very much Sir, should i show buyback gains in capital gain section first & then get exemption by showing it in exempt income section ? Or directly mention only in exempt income section? Please reply