Preference share redemption payment

232 views 2 replies
Payment made against redemption of preference.

Can TDS deductible for this payment, If yes , then which sec.
Replies (2)
There is no TDS implication as far as I am aware.
In my recent reading,there is a supreme court decesion in Anarkali Sarabhai v/s CIT ( 1997) Taxman 509 ( SC) , Preference shares are movable property and goods, hence redemption of preference share is treated as sales, hence purshaser are required to deduct tds u/s 194Q , if turnover exceed 50 Lacs.

please see is it right?


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register