XYZ Pvt. Ltd. had distributed income of ₹6 lakh to Rajesh for the reason of buyback of its shares (Not being listed on a recognized stock exchange) from him on 1st February, 2019. The amount of ₹6 lakh received by Rajesh
CS Executive · Tax Laws · PYQS · December 2019
XYZ Pvt. Ltd. had distributed income of ₹6 lakh to Rajesh for the reason of buyback of its shares (Not being listed on a recognized stock exchange) from him on 1st February, 2019. The amount of ₹6 lakh received by Rajesh in the A.Y. 2019-20 shall be __________ .
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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