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Related party transaction @20%

(Querist) 30 October 2014 This query is : Resolved 
TO DETERMINE THE Relative party transaction , what are the percentage are require to check as ownership in relation to relative party transaction ?

what is the std benchmark to judge the relative party transaction ?

my brother has 20% stake in firm as a partner .Both firms are under audit u/s 44ab . has reporting is require manadatory about transaction with other firm .? why?
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Isaac Gabriel (Expert) 30 October 2014
Go to CAclub india.com
Anirudh (Expert) 30 October 2014
Please go through Section 40A, specially Sec. 40A(2)(b), that answers your query.
Rajendra K Goyal (Expert) 30 October 2014
Consult your tax consultant.
pooja dedhia (Querist) 15 November 2014
dear anirudh . thanks a lot

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