TY  - GEN
AU  - PANDEY, T N
TI  - New law relating to income taxation on buyback of shares by companies
PY  - 2013///
KW  - TAXATION
N2  - During the budget exercises for the year 2013-14 an anti tax avoidance measure by way of tax on buyback of shares in the cases of unlisted companies has been introduced. It was noticed that some companies to avoid dividend distribution tax, instead of distributing dividends to the shareholders were passing on the accumulated profits to them by way of payment of higher prices through buying back shares where the capital gains arising on such shares in the hands of the shareholders were not chargeable to tax or were taxable at lower rte of tax
ER  -