Section 40a(2)(b)

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MANISHA KOTAK (Querist)
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09 July 2014 Whether Companies having Common director are covered under this provisions?
Two companies are having Common Director.(i.e.A Ltd and B PVT Ltd.)Now Company A purchases goods from company B .This transaction is exceeding Rs. 5 Crores. So,in this case whether section 40(a)(2)(b) is applicable (including reporting requirements in 3 CD) And also Suggest me about applicability of Domestic Transfer Pricing.
Please Resolve my Query And provide me reference of another provisions (with sub section) if applicable.

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
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09 July 2014 it is covered if the directors of B Pvt Ltd are having beneficial shareholding of 20% or more in the A ltd

yes Domestic Transfer pricing is applicable if it exceeds Rs.5 Crores

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Section 40a(2)(b)

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