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        Clause 39 - Amendment of section 115QA.

        Finance (No. 2) Bill, 2024
        Chapter III
        DIRECT TAXES - Income-tax

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        Tax on distributed income: buy-back of shares excluded from levy for transactions on or after Oct 2024. The Bill inserts a proviso excluding any buy-back of shares that takes place on or after 1 October 2024 from the additional tax on distributed income otherwise chargeable on domestic companies in relation to share buy-backs.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Tax on distributed income: buy-back of shares excluded from levy for transactions on or after Oct 2024.

                                The Bill inserts a proviso excluding any buy-back of shares that takes place on or after 1 October 2024 from the additional tax on distributed income otherwise chargeable on domestic companies in relation to share buy-backs.


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