Under which section Bonus stripping within tax planning is disallowed? Question 10Answer a. Section 12AB b. Section 94(8) c. Section 280H d. Section 119B
Bonus stripping is disallowed under Section 94(8) of the Income Tax Act. This section addresses the tax implications of transactions involving the stripping of bonuses from shares. Therefore, the correct answer is:
b. Section 94(8)