Participant definition under Black Money Act clarifies that partners and members of associations or bodies are included. The term Participant in the Black Money (Undisclosed Foreign Income and Assets) Act is defined to include (a) a partner in relation to a firm and (b) a ... Summary
Participant definition under Black Money Act clarifies that partners and members of associations or bodies are included.
The term Participant in the Black Money (Undisclosed Foreign Income and Assets) Act is defined to include (a) a partner in relation to a firm and (b) a member in relation to an association of persons or a body of individuals, thereby specifying the categories of persons treated as participants for the Act's purposes concerning undisclosed foreign income and assets.
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