For the purpose of determining substantial interest u/s 64(i)(it means:
A. In case of company, if individual holds (individually or along with relatives) 20% or more equity shares at any time during the P.Y.
B. If not a company, he has 20% or more share in profits
C. Both (a) & (b)
D. None of these
Answer:C
For the purpose of determining substantial interest u/s 64(i)(it means:
A. In case of company, if individual holds (individually or along with relatives) 20% or more equity shares at any time during the P.Y. B. If not a company, he has 20% or more share in profits C. Both (a) & (b) D. None of these