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XYZ (P) Ltd. decided to buy-back shares from the shareholders. It bought 30000 shares of ?10 each by paying ?40 per share. The accumulated profits of the company on the date of buy-back was ?30 lakhs. The buy-back was 30% of the total paid up capital. The tax liability on the company for buy-back of shares would be

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The syllabus (and study weightage):
A. Advanced Direct Tax Laws 50%
B. International Taxation 30%
C. Case Study Analysis 20%


XYZ (P) Ltd. decided to buy-back shares from the shareholders. It bought 30000 shares of ?10 each by paying ?40 per share. The accumulated profits of the company on the date of buy-back was ?30 lakhs. The buy-back was 30% of the total paid up capital. The tax liability on the company for buy-back of shares would be






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