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<h1>Amendment to Section 115QA exempts certain share buy-backs from tax if announced before July 5, 2019.</h1> Section 115QA of the Income Tax Act, 1961, was amended by the Taxation Laws (Amendment) Act, 2019. The amendment introduced a proviso to sub-section (1), effective from July 5, 2019. This proviso exempts the buy-back of shares listed on a recognized stock exchange from the provisions of sub-section (1) if a public announcement regarding the buy-back was made before July 5, 2019, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018.