Income Tax 2019 - 232. page

Income Tax as Amended by Finance Act 2018

Punishment for personation of shareholder  : Section – 57. If any person deceitfully personates as an owner of any security or interest in a company, or of any share warrant or […]

Transfer and transmission of securities  : Section – 56. (1) A company shall not register a transfer of securities of the company, or the interest of a member in the company in […]

Issue and redemption of preference shares  : Section – 55. (1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable. (2) […]

Issue of sweat equity shares : Section – 54. (1) Notwithstanding anything contained in section 53, a company may issue sweat equity shares of a class of shares already issued, if […]

Prohibition on issue of shares at discount : Section – 53. (1) Except as provided in section 54, a company shall not issue shares at a discount. (2) Any share issued […]

Application of premiums received on issue of shares : Section – 52. (1) Where a company issues shares at a premium, whether for cash or otherwise, a sum equal to the […]

Payment of dividend in proportion to amount paid-up : Section – 51. A company may, if so authorised by its articles, pay dividends in proportion to the amount paid-up on each […]

Company to accept unpaid share capital, although not called up : Section -50. (1) A company may, if so authorised by its articles, accept from any member, the whole or a […]

Calls on shares of same class to be made on uniform basis  : Section – 49. Where any calls for further share capital are made on the shares of a class, […]

Variation of shareholders’ rights  : Section – 48. (1) Where a share capital of the company is divided into different classes of shares, the rights attached to the shares of any […]