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BUY BACK OF SHARES

ganesh Puli (32 Points)

20 December 2020

Please tell me about tax ability on buy back of share

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Makarand Kulkarni (18 Points)
Replied 20 December 2020

Section 115QA will be applicable to company in case of buy back of shares

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ganesh Puli (32 Points)
Replied 20 December 2020

Tax liability in the hands of share holder

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Makarand Kulkarni (18 Points)
Replied 20 December 2020

Since it is taxable in the hands of company, it is exempt in the hands of shareholder

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ayusmita (Tax consultant) (5885 Points)
Replied 21 December 2020

Sec 115QA of the finance act applied only unlisted companies which warranted a tax of 20% on the distributed income

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Krishna Chaudhary (Accountant) (4531 Points)
Replied 23 December 2020

Fully exempt in hands of shareholder u/s 115QA,no matter whether listed or unlisted.
Taxable in hands of companies. Before July 2019 it exempted for unlisted only. but after that it is exempted for both listed and unlisted.

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