For the purpose of sec.64, an individual have substantial interest in a company if he holds 20% of voting right alongwith his relative. Here, relative do not include:

Related MCQs

• A person is deemed to have substantial interest in a company if he is
• An individual estimates that he is required to pay Rs. 1,00,000 as advance tax. By 15th of December, how much amount must be paid by the individual?
• When a resident senior citizen having gross total income of Rs. 5,56,000, has derived interest from savings account in a nationalized bank of Rs. 8,200 and fixed deposit interest of Rs. 47,000 from such bank, he is eligible for deduction of Rs. ________ from the gross total income.
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