Director definition equates director to partner or controlling member for firms and associations under income tax law. Definition of Director for section 278B treats the term functionally: for a firm, Director means the partner; for an association of persons or body of ... Summary
Director definition equates director to partner or controlling member for firms and associations under income tax law.
Definition of Director for section 278B treats the term functionally: for a firm, Director means the partner; for an association of persons or body of individuals, Director means any member controlling the affairs of that entity, thereby aligning tax responsibility with persons who exercise control in non-corporate entities.
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