Preference shares, more commonly referred to as preferred stock, are shares of a company’s stock with dividends that are paid out to shareholders before common stock dividends are issued. If the company enters bankruptcy, preferred stockholders are entitled to be paid from company assets before common stockholders. What is Redemption of Preference Shares? Redemption of preference shares is […]
A Partnership forms when two or more individuals make a decision that they will jointly begin a business or a venture by contributing assets in the form of investments, and this partnership is created only with the intention of making profits. In such a scenario, the individuals contributing to jointly begin a business are called
TCS full form stands for Tax Collected at Source. The purchaser is responsible for paying the TCS bill, which is collected from the lessee or buyer. Although it is the responsibility of the buyer to pay TCS, the seller is equally liable to collect the TCS duly. To better understand the mechanism, look at an
The third iteration of the MCA21 site was introduced by the Ministry of Corporate Affairs in March 2022. The major goal of this new version, the V3 Portal, was to improve the delivery of services connected to Limited Liability Partnerships (LLPs). In particular, MCA stated that all LLP filings will move to an online format beginning on March
According to the guidelines of the Income Tax Act of 1961, obtaining a home loan can offer chances for tax savings. Provisions in the most recent financial budget improved these advantages even more. Nirmala Sitharaman, the Union Finance Minister, suggested extending the deadline for further deductions on home loan interest payments during her budget speech. After being extended until
Kerala offers incredible experiences to tourists as much as the locals, who enjoy staying there. The famed Keralan backwaters are a thing of beauty that is best witnessed with your own eyes. The tropical state is a good place to live out a peaceful retirement. If you are planning to stay in Kerala for the
The Rajasthan government has started a scheme for its residents wishing to go on the Sindhu Darshan pilgrimage. The scheme announced is called as “Sindhu Darshan Tirth Yatra Yojana”. The Sindhu Darshan festival is usually held every year in the month of June on the auspicious occasion of Guru Purnima at Leh Ladakh. A large
Amendment of section 16 In section 16 of the Income-tax Act, in clause (ia), the following proviso shall be inserted with effect from the 1st day of April, 2025, namely:— ‘Provided that in a case where income-tax is computed under clause (ii) of sub-section (1A) of section 115BAC, the provisions of this clause shall have effect
Amendment of section 13 In section 13 of the Income-tax Act, in sub-section (1), in clause (d), in the proviso, after clause (iii), the following clause shall be inserted with effect from the 1st day of October, 2024, namely:— “(iv) any asset referred to in sub-clauses (i), (ia) and (ii) of clause (b) of the
Insertion of new section 12AC After section 12AB of the Income-tax Act, the following section shall be Inserted with effect from the 1st day of April, 2025, namely:— “12AC. Merger of charitable trusts or institutions in certain cases – Where any trust or institution registered under section 12AB or approved under sub-clause (iv) or sub-clause (v) or
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