BuyBack Tax
I am Supriya (94 Points)
09 August 2018I am Supriya (94 Points)
09 August 2018
Vaishnavi Ganesh
(Chartered Accountant)
(861 Points)
Replied 09 August 2018
It is the Finance Act which quantifies the rate of surcharge & cess as may be applicable.
Buyback of shares - Section 115QA explains.
I am Supriya
(94 Points)
Replied 09 August 2018
Vaishnavi Ganesh
(Chartered Accountant)
(861 Points)
Replied 09 August 2018
Have a look at Finance Act, 2017 it says that on rates specified in certain sections including Section 115QA shall be added with a surcharge of 12% and Cess of 3%
20%+12%+3% = 23.072%
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