IN SPECIFIED PERSONS RELATIVES OF DIRECTORS ARE ALSO INCLUDED.IF YES SUBSTANTIAL INTEREST OF THE RELATIVES IS ALSO REQUIRED?
Yes. Interest of the specified persons are not required in 3cd , we have to just disclose nature of payment.
Yes, relative of a director of a company/firm/AOP/HUF having substantial interest in the business of the assessee is also a specified person.
Substantial interest rule only applies to the company/firm/AOP/HUF and not to the director/member/partner/relative of them.