40A(2)(b) transaction

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  1. vijay Rajput

    vijay Rajput New Member

    A wife has a partnership firm and having "PURCHASE" transaction with a PVT. LTD. Company in which her husband is having 36% voting right so, I know that company is Related party under Income tax act but that Purchase transaction can be r
     
  2. as per Section 40A(b)(vi)(B), if A wife has a substantial interest in that firm then the Firm is the related person to Pvt Ltd
     
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