Related parties as per income tax act
This query is : Resolved
18 August 2012
WHETHER BROTHER/SISTER IN LAW AND COUSIN BROTHER/SISTER ARE COVERED UNDER RELATED PARTIES AS PER SECTION 40A(2)b
Amol S Joglekar
(Expert)
18 August 2012
"relative", in relation to an individual, means the husband, wife, brother or sister or any lineal ascendant or descendant of that individual. Brother in law, sister in law, cousin brother, cousin sister are not covered.
SANYAM ARORA
(Expert)
18 August 2012
No they are not covered
21 August 2012
thank you both of you but can you provide me any case law in this case?????
Amol S Joglekar
(Expert)
21 August 2012
Case law is required when ever there is any amguity. Here there is no such ambiguity. Still I will try to find out and get back, if possible.
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