Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 16(9)] [Section 16] [Entire Act]

State of Kerala - Subsection

Section 16(9)(d) in The Kerala Agricultural Income Tax Act, 1991

(d)a person shall be deemed to have a substantial interest in a concern-
(i)in a case where the concern is a company, if its shares (not being shares entitled to a fixed rate of dividend, whether with or without a further right to participate in profits) carrying not less than twenty percent of the voting power are, at any time during the previous year, owned beneficially by such person or partly by such person and part by one or, more of the other persons referred to in sub-section (8).
(ii)in the case of any other concern, if such person is entitled, or such person and one or more of the other persons referred to in sub-section (8) are entitled in the aggregate, at any time during the previous year to not less than twenty per cent of the profits of such concern.