Buy back of shares by domestic companies
This query is : Resolved
26 June 2014
on which income a domestic company is required to pay additional tax under sec-10(34A)of the act
26 June 2014
the tax is not paid on the income under 10(34A) but under 115QA on the amount of money distributed to shareholders on buyback of the shares by company. the tax is at 20%. It is not company's income. and is similar to dividend distribution tax.
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26 June 2014
this is for unlisted company who buy back his share from shareholder u.s 77A of company act.
tax is 20%+sc+ces is full & final payment it is not creditable by co. or shareholder,
it is effect from 1.6.2013.
tax is 20%+sc+ces is full & final payment it is not creditable by co. or shareholder,
it is effect from 1.6.2013.
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