Buybacks Rise In Popularity As New Tax Rules Draw Near

Buyback season may be upon us as new rules have shifted the burden of paying tax to shareholders.While the earlier rules dictated that the tax would be paid by the companies making the buyback, this responsibility has been shifted to the investors under the 2024 Union Budget, with the income being taxed at slab rates.Two companies have already announced buybacks ahead of Oct. 1, when the guidelines are set to come into effect, while ...