Series A funding is a level of investment in a start-up that follows seed capital funding.
Essentially, the Series A round is the second stage of startup financing and the first stage of venture capital financing.
Series A funding enables a start-up that has potential but lacks needed cash to expand its operations through hiring, purchasing inventory and equipment, and pursuing other long-term goals.
Series A funding is primarily used to ensure the continued growth of a company.
Similar to seed capital funding, Series A funding is a type of equity-based financing. This means that a company secures the required capital from investors by selling the company’s shares.
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Finance Act, 2021 inserted a new Section 194P to provide relief to a senior citizen who is 75 years or more from the burden of filing of return of income.
It provides that if TDS has been deducted u/s 194P, then such senior citizen shall be exempted from filing Income Tax Return
Section 194P provides conditional relief to the senior citizen from filing the Income-tax return.
It is applicable only if the below mentioned conditions are satisfied.