Which challan should be used to pay Buyback Tax u/s 115QA? If Challan 280, then under type of Tax payment there are 2 options Code 106: Tax on Distributed profits and Code 107: Tax on Distributed Income. Which one should be chosen?
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Buyback Tax
Replies (3)
It will be ---
Code 107: Tax on Distributed Income
Code 107: Tax on Distributed Income
When I downloaded the PDF challan from Income tax website, Code 107 is Tax on distributed Income to Unit Holders whereas 106 is Tax on distributed profits of Domestic companies
So are you sure it is 107 ??
There are 106 and 107 codes however none specify Tax payments on buy backs.
Pl wait for a reply . Most probably challan modifications could be awaited.
Pl wait for a reply . Most probably challan modifications could be awaited.
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