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buy back of shares by unlisted co
who will be liable for BBDT, if co is liable for BBDT then is there any in the hands of shareholders?
Replies (8)
read section 115QA and 46A in case of buyback of share of unlisted company
this income is exempted in the hand of shareholders under section 10(34a)
n wt about company
unlisted company has to pay tax u/s 115QA @ 20% plus cess @ 3%
ok thax
but surcharge is also applicable therefore effective rate will be 23.072%
but surcharge is also applicable therefore effective rate will be 23.072%
correct surcharge @ 10% will come
Can you confirm under which head to pay tax for buy back of unlisted share?
Challan 280 has 2 options:
Tax on Distributed Profits of Domestic Companies (106)
Tax on Distributed Income to Unit Holders (107)
Thanks
under which head
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