Sec 40 A 2 of I. T. Act

682 views
User Avatar

Asst. Company Secretary
144 Points Posted on 13 August 2010

Dear All

As per Section 40A 2  of IT Act substantial Interest means person who is holding more than 20 percent of voting rights

my question is whether this limit of 20 percent is individually or collectively
eg.
if two person one holds 12 percent and other 13 percent
then are they holding substantial interest
 
Thanks & Regards,

Reply Share Follow
On 13 August 2010 at 14:47 Report
Replies (3)
User Avatar

Student...Hoping to pass Inter
643 Points Posted on 13 August 2010
No the % is not colective....
Reply
On 13 August 2010 at 15:41
User Avatar

Student
152 Points Posted on 13 December 2010

Any person shall have substantial interest if he individually  holds 20% or more of the voting rights.

 

Reply
On 13 December 2010 at 15:15
User Avatar

student-IPCC
461 Points Posted on 13 December 2010
Originally posted by : Palash
No the % is not colective....

agreed

Reply
On 13 December 2010 at 15:35

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. TDS on payment to a non resident
  2. NSFA(National Food Security Act) commission
  3. RCM applicability on petty GTA freight (₹450
  4. Short payment reccieved in export & GST implic
  5. Parag Gupta vs Purushottam Aggarwal- who is best f
  6. GST applicability on own-vehicle goods transportat
  7. FAST DS Scheme 26
  8. 12A registration expired in FY 22-23 and is not re
  9. Seeking Clarification on Business Code Selection a
  10. CG on property sold after construction of a house

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details