Sec 40 A 2 of I. T. Act

658 views 3 replies

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,

Replies (3)
No the % is not colective....

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

 

Originally posted by : Palash
No the % is not colective....

agreed

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details