Stamp duty on buy back of shares?
This query is : Resolved
CS GARIMA JAIN
(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.?
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.
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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