Budget 2026 brings one of its most significant tax reforms by overhauling how India treats share buybacks. The government has moved from a dividend-based system to a capital gains model, a change that affects companies, promoters and regular investors very differently.
Tax expert Suresh Surana describes the move as “a pragmatic and long overdue shift that finally brings clarity to how buybacks should be taxed.”
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Earlier, the amount a shareholder received in a buyback was treated as div
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