Part of: Section 115QA — Tax on distributed income to shareholders
(1) Notwithstanding anything contained in any other provision of this Act, in addition to the income -tax chargeable in respect of the total income of a domestic company for any assessment year, any amount of distributed income by the company on buy - back of shares (not being shares listed on a recognised stock exchange) from a shareholder shall be charged to tax and such company shall be liable to pay additional income -tax at the rate of tw enty per cent on the distributed income. Explanation .-For the purposes of this section, -