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of <h1>Section 115QA imposes 20% additional tax on domestic companies for distributed income from share buy-backs</h1> Section 115QA of the Income Tax Act imposes a 20% additional tax on domestic companies for distributed income arising from share buy-backs. The distributed income is calculated as consideration paid minus the original amount received for share issuance. Companies must pay this tax within fourteen days of payment to shareholders. The provision includes exemptions for shares with public announcements made before July 5, 2019, and buy-backs occurring after October 1, 2024. This tax is treated as final payment with no further credits allowed to companies or shareholders, and no deductions are permitted for this income.
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