Section 36(3)(b) in The Income Tax Act, 2025

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Union of India - Subsection

Section 36(3)(b) in The Income Tax Act, 2025

(b)a person is deemed to have "substantial interest in the business or profession" if—

(i)in a case where the business or profession is carried on by a company, such person is, at any time during the tax year, the beneficial owner of shares (not being shares entitled to a fixed rate of dividend whether with or without a right to participate in profits) carrying not less than 20% of the voting power; and

(ii)in any other case, such person is, at any time during the tax year, beneficially entitled to not less than 20% of the profits of such business or profession.

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Union of India - Subsection

Section 36(3)(b) in The Income Tax Act, 2025