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Stamp duty on buy back of shares?

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(Querist)
04 July 2015 Query: whether stamp duty is payable by the company on buy back of shares from its shares holders?if yes, what's the procedure/provision i.e., rate of duty etc.?
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CS Adnan Shaikh

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CS Adnan Shaikh (Expert)
06 July 2015 In my opinion Yes (Considering it as Unlisted Co).

The Company is liable to pay 20% tax of (Consideration received by shareholder under Buyback - amount received by Co on issue of such shares).

Refer section 115QA of Income Tax Act. Other views invited.

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