Company in which public are substantially interested



Posted on 08-05-2016        By ADMIN



Company in which public are substantially interested[section 2(18)]: It means a – 
CS Professional Programme Tax Notes

I. A company owned by govt. / RBI or in which 40% or more ofthe shares are held by the Government or RBI or a corporation owned by the RBI;or 

II. Company which is registered under section 25 of theCompanies Act, ; or 

III. Company having no share capital, if its declared forspecified years by order of the Board to be a company in which the public aresubstantially interested, or 

IV. Mutual benefit finance company; or 

V. Company, wherein 50% or more of the voting power wasthroughout the previous year held by one or more co-operative societies;or 

VI. A public listed company as on the last day of theprevious year; or 

VII. A public company, if its 50% or more of voting powerwas throughout the previous year held by – 

1) Government 

2) statutorycorporation, or

 3) any company in which public are substantially interested; or 

4) any 100% subsidiary of a company in which public are substantiallyinterested.   



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