Section 115QA : Tax on distributed income to shareholders.

0
977
Print Friendly, PDF & Email

Tax on distributed income to shareholders.

115QA. (1) Notwithstanding anything contained in any other provision of this Act, in addition to the income-tax chargeable in respect of the total income of a domestic company for any assessment year, any amount of distributed income by the company on buy-back of shares (not being shares listed on a recognised stock exchange) from a shareholder shall be charged to tax and such company shall be liable to pay additional income-tax at the rate of twenty per cent on the distributed income.

This content is for annual and Semi Annual members only.
Log In Register