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From the company's point of view, as per the tax liability, buyback works better than paying dividends because dividend payment attracts 15% dividend distribution tax. In the case of the buyback, the company doesn’t have to pay any tax. From investor's point of view, individuals who receive dividend income in excess of Rs 10 lakhs, has to pay dividend tax of 10%. In the case of the buyback, investors/traders need to pay long-term capital gain/ short-term capital gain tax as per their buying window.
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