Section 40 A 2(b)
This query is : Resolved
13 February 2010
Hi All,
One of my client is a director in company A and B.He is also 40% shareholder in compamy A. I wish to know are company B and directors of company B shall be deemed to be interested parites with in the meaning of section 40A 2(b)(v) in company A? What would be the status of Company A and its directors when Assessee is company B.
Pls give your opinions.
Thanks
N.B.
One of my client is a director in company A and B.He is also 40% shareholder in compamy A. I wish to know are company B and directors of company B shall be deemed to be interested parites with in the meaning of section 40A 2(b)(v) in company A? What would be the status of Company A and its directors when Assessee is company B.
Pls give your opinions.
Thanks
N.B.
13 February 2010
Company A & B will be related party for the purpose of Section 40A(2)
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