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of <h1>CBDT Instruction No. 1330 Clarifies Director's Shareholding and Employment Status u/r 86, Modifying Earlier Guidance.</h1> Instruction No. 1330 issued by the CBDT on April 23, 1980, clarifies the determination of a director's shareholding under rule 86. It specifies that a director is considered a whole-time bona fide employee only if no other employment is permissible under the terms of employment and none is undertaken. Additionally, when determining a director's shareholding percentage, only shares actually belonging to the director should be considered, excluding benami holdings unless such holdings are proven or openly acknowledged. This modifies the earlier Instruction No. 1143 from January 25, 1978, as outlined in the specified paragraphs.
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