in 3cd report we got to report the payments made to related party .the related party mean those who have substantial interest in the company/firm. so whats the scope of substantial interest. what is the yard stick to decide whether a person have substantial interest or not
10 September 2009
If u are taking about clause 18 of Form 3CD,U can rely section 40A(2)(b) and 2(41) of The Income tax Act,1961 to measure the yardstick of substantial interest.
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