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Sec 40 A 2 of I. T. Act

Others 649 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


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