Which challan should be used to pay Buyback Tax u/s 115QA? If Challan 280, then under type of Tax payment there are 2 options Code 106: Tax on Distributed profits and Code 107: Tax on Distributed Income. Which one should be chosen?
3 Replies
Kapadia Pravin
(17259 Points)
Replied 25 November 2019
It will be ---
Code 107: Tax on Distributed Income
Code 107: Tax on Distributed Income
Rakesh Rao
(CA Final Student)
(408 Points)
Replied 25 November 2019
When I downloaded the PDF challan from Income tax website, Code 107 is Tax on distributed Income to Unit Holders whereas 106 is Tax on distributed profits of Domestic companies
So are you sure it is 107 ??
Kapadia Pravin
(17259 Points)
Replied 25 November 2019
There are 106 and 107 codes however none specify Tax payments on buy backs.
Pl wait for a reply . Most probably challan modifications could be awaited.
Pl wait for a reply . Most probably challan modifications could be awaited.
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
