Cognizant liable to pay dividend distribution tax on buyback of shares worth Rs 19,000 crore: ITAT

Cognizant Technology Solutions in the assessment year 2017-18 purchased 94,00,534 equity shares of face value Rs 10 from its shareholders based in the US and Mauritius at Rs 20,297 apiece for a total consideration of Rs 19,080.26 crore in accordance with a scheme approved by the Madras High Court.

from Moneycontrol Business News https://ift.tt/OBC9ped