Buy back tax extension: buy backs by listed companies now subject to the anti abuse levy, with shareholder exemption aligned. The anti abuse levy under Section 115QA is proposed to be extended to companies listed on recognised stock exchanges, bringing buy backs by listed ... Summary
Buy back tax extension: buy backs by listed companies now subject to the anti abuse levy, with shareholder exemption aligned.
The anti abuse levy under Section 115QA is proposed to be extended to companies listed on recognised stock exchanges, bringing buy backs by listed companies within the additional tax regime and addressing tax arbitrage between buy backs and dividends; simultaneously, the exemption for shareholders under clause (34A) of section 10 is extended to listed company shareholders where the company has paid the buy back tax, effective for buy backs on or after the stated commencement date.
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