Related-person definitions identify NPO founders, contributors, trustees, relatives, and concerns with substantial interest under income-tax law. Related person for registered non-profit organisations includes an author or founder, specified contributors, relevant Hindu undivided family members, ... Summary
Related-person definitions identify NPO founders, contributors, trustees, relatives, and concerns with substantial interest under income-tax law.
Related person for registered non-profit organisations includes an author or founder, specified contributors, relevant Hindu undivided family members, trustees, managers, their designated relatives, and concerns in which such persons have substantial interest. Under the Settlement Commission context, related-person status is determined by majority shareholding, voting rights, profit entitlement or karta status, according to the person's legal character. It also covers persons having direct or indirect mutual business interest, including holding and subsidiary companies, relatives, distributors and sub-distributors.
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