Buy back of shares u/s69
This query is : Resolved
31 August 2026
whether 234A/234B/234C is applicable on additional tax u/s 69(2) in case of buy back of shares. Explain
31 August 2026
No, Sections 234A, 234B, and 234C of the Income Tax Act are NOT applicable to the additional tax payable on the buyback of shares.
31 August 2026
Sections 234A, 234B, and 234C do not apply to the additional tax on share buybacks because buyback tax is an event-based levy rather than a standard income tax subject to advance tax estimation or annual return deadlines. Default or delay in depositing buyback tax within the mandatory 14-day window is governed exclusively by its own specific interest provision (Section 115QB) at a rate of 1% per month or part thereof.
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