Who are responisbile to pay tax on share buy back?

company is liable to pay tax on buy back @ 23.296% on profit arising on buy back of shares

Company is liable to pay buy back tax @ 20%
To be increased be surcharge of 7% or 12% (depending on size of company) and further added by education cess @ 4%

There is no further tax liability in the hands of shareholder as buy-back proceeds will become tax free receipt

can u pls define surcharge means in buy back??

when 7 or 12 % will levied

@ Pranav

....shall, be increased by a surcharge for the purposes of the Union calculated,—

(i) in the case of every domestic company,—(a) having a total income exceeding one crore rupees but not exceeding ten crore rupees, at the rate of seven per cent of such income-tax;

and(b) having a total income exceeding ten crore rupees, at the rate of twelve per cent of such income-tax;