Tag Archives: Section 115QA

CBDT notified rules for Buy-Back of Shares

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th October, 2016 INCOME-TAX G.S.R. 982(E).—In exercise of the powers conferred by section 115QA read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend… Read More »

Draft Rules on buy back of shares formulated

Draft Rules for prescribing the manner of determination of amount received by the company in respect of share formulated (Section 115QA of the Income-tax Act, 1961) Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percent is levied on the distributed income arising out of buy back… Read More »

CBDT prescribe method to determine Share consideration for buy back tax; Draft Rules released

F No 370133/30/2016-TPL F No 370133/30/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******* New Delhi, Dated 25thJuly, 2016 Subject: Draft Rules for prescribing the manner of determination of amount received by the company in respect of share – section 115QA of the Income-tax Act, 1961-reg. Under section… Read More »