are directors covered under perview of sec 40(2) related parties even if there holding in the company is less than 20%?
Anshul Shukla (Article assistant) (63 Points)
12 June 2011are directors covered under perview of sec 40(2) related parties even if there holding in the company is less than 20%?
Devendra
(Chartered Accountant)
(4775 Points)
Replied 12 June 2011
If the holding is less than 20%, then Directors will not be covered u/s 40A(2).
Regards,
Devendra