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Income Tax - Frequently Asked Questions (FAQs)

FAQs on charitable or religious trusts

What is the meaning of substantial interest?

Contents

Ans. A person is deemed to have a substantial interest in concern if he (or along with 'interested persons' as mentioned above) at any time during the previous year:

a. Holds at least 20% of equity share capital, in case of a company; or

b. Entitled to at least 20% of profits in the case of any other concern.

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