Section 35AD(8)(a) in The Income Tax Act, 1961

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Union of India - Subsection

Section 35AD(8)(a) in The Income Tax Act, 1961

(a)an "associated person", in relation to the assessee, means a person,—

(i)who participates, directly or indirectly, or through one or more intermediaries in the management or control or capital of the assessee;

(ii)who holds, directly or indirectly, shares carrying not less than twenty-six per cent of the voting power in the capital of the assessee;

(iii)who appoints more than half of the Board of directors or members of the governing board, or one or more executive directors or executive members of the governing board of the assessee; or

(iv)who guarantees not less than ten per cent of the total borrowings of the assessee;

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Union of India - Subsection

Section 35AD(8)(a) in The Income Tax Act, 1961