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of <h1>Amendment to Section 115QA: No 20% Tax on Company Share Buy-Backs from October 1, 2024.</h1> Clause 39 of the Finance (No. 2) Bill, 2024, proposes an amendment to section 115QA of the Income-tax Act. This section currently imposes a 20% tax on distributed income from a company's buy-back of shares. The amendment introduces a proviso stating that this tax will not apply to buy-backs occurring on or after October 1, 2024. This change is set to take effect from October 1, 2024.
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