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ValueSeeker ji,
Not taxable. 45 shares is the correct one to be considered under the Retail Category. If the price increases beyond Rs.4400/-, you need not wait to tender for the buyback n you can sell in the open market. Thank you n all the best.

KSRK ji, thanks for your response.
I wonder why it is not taxable! If I buy today 10 shares at 3800, and suppose they all get accepted in the buyback at 4500, won't I get an STCG of 700x10 = 7000? Why should it be tax-free?

Second part of my ques was, if the stock trades below 4000 on the record date, then I would be a retail shareholder even if I have 50 shares. So, buying 5 more shares - is it a gamble worth taking? Cos I will need to buy by 21st, and price could exceed 4000 in subsequent 2 days.

For first part - there is a tax on buyback which is to be paid by the company and not the shareholder tendering his shares. This is why for us, shareholders, buyback profits are tax free.

For second part - I can not say about gamble but I am having 50 shares. If TCS goes above 4000, then I will sell some to remain in retail category.

The burden of tax is to be paid by any one of the parties
In case of buyback it is paid by the company itself that's why individual isn't required to pay additional tax