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Related party under 40a(2)(b)
X is Limited Liability Partnership, It has substantial Interest (more than 20% shareholding) in Y Ltd as well as Z Ltd. So Can we say that Y Ltd and Z ltd are related party under 40a(2)(b). If yes, as per which clause of Section 40a(2)(b).
Replies (1)
Yes Y Ltd. and Z Ltd are related parties of X LLP. It is mentioned in clause (vi)(B) of 40A(2)(b).
Hope it helped you :-)
Hope it helped you :-)
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