Evita Janette

Amendments In Finance Bill 2024 Pdf. Currently, domestic companies are liable to pay a 20% tax on distributed profits (plus a 12% surcharge and a 4% cess), leading to an effective rate of 23.296%. Amendments made by the finance (no.

One significant challenge is the tax burden incurred by companies during the buyback process. Provisions with respect to reassessment of income contained in section 147 to 151 of the income tax act, 1961 were substituted by the finance act 2021, with effect from 1 st of april 2021.