CA.kaya (Chartered accountant) (3990 Points)
10 September 2009HELLO
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
Santosh kumar
(J.A.M)
(73 Points)
Replied 11 September 2009
according to 40A(2)of ITAct if person is having 20% or more in profit sharing in a firm
incase company 20% e.shares .
CAclubindia
