While paying buy back tax by the company is it required to compulsorily calculate sukindlrcharge and cess on distributed amount over and above 20%. Kindly tell me which section talks about the surcharge and cess to be paid
Have a look at Finance Act, 2017 it says that on rates specified in certain sections including Section 115QA shall be added with a surcharge of 12% and Cess of 3%
20%+12%+3% = 23.072%
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