Central Board of Direct Taxes (CBDT) today came out with draft rules for determining the quantum of distributed income arising out of buy back of shares of unlisted companies for levy of tax.
The distributed income was defined as the consideration paid by the company on buy back of shares as reduced by the
amount which was received by the company for issue of such shares, the draft said.
"The Finance Act, 2016 amended the definition of distributed income, with effect fr ..
The distributed income was defined as the consideration paid by the company on buy back of shares as reduced by the
amount which was received by the company for issue of such shares, the draft said.
"The Finance Act, 2016 amended the definition of distributed income, with effect fr ..
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