clause 18 of form 3cd

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CA Divya Singhal (Querist)
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10 September 2009 IN SPECIFIED PERSONS RELATIVES OF DIRECTORS ARE ALSO INCLUDED.IF YES SUBSTANTIAL INTEREST OF THE RELATIVES IS ALSO REQUIRED?

Anjani Pratap Tiwari

Anjani Pratap Tiwari (Expert)
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10 September 2009 Yes. Interest of the specified persons are not required in 3cd , we have to just disclose nature of payment.

Kaustuv

Kaustuv (Expert)
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10 September 2009 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.