for unlisted companies who is responsile to pay tax on share buy back? company or share holders
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Who are responisbile to pay tax on share buy back?
Replies (4)
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
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
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;
....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;
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