Sister concern

This query is : Resolved

Share Report Follow Query Ask a Query

SANIA

SANIA (Querist)
Follow

21 September 2014 meaning of sister concern and the persons included in it

Yogesh Shukla

Yogesh Shukla (Expert)
Follow

22 September 2014 Sister Concerns means organisations under the same management. Where the important decisions(control and management) are taken by a person or group of persons managing one or more organisations.
Definition of a "relative" A person shall be deemed to be relative of another, if and only if, :-

a) they are members of a Hindu Undivided Family; or

b) they are husband and wife; or

c) the one is related to the other in the manner indicated below :

List of relatives
1. Father.
2. Mother including step-mother
3. Son including step-son
4. Son's wife
5. Daughter including step-daughter,
6. Daughter's husband.
7. Brother (including step-brother)
8. Brother’s wife
9. Sister (including step-sister)
10. Sister’s husband unj/Sen/DIR-Ban on Loan to Directors

SANIA

SANIA (Expert)
Follow

23 September 2014 Ok if I m sole proprietor and I hv dealings with my relatives business then that will be sister concern for me
For eg:
Relative is also sole proprietor
Relative is partnership firm in which all persons are my partners

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now