Examples of Material Financial Relationship in a sentence
Every Designated Person shall be required to disclose their name and PAN or any other identifier authorised by law for himself and his Immediate Relatives, persons with whom such a Designated Person shares a Material Financial Relationship, phone and mobile numbers which are used by them, names of educational institutions from which the Designated Persons have graduated and names of their past employers, etc.
Material Financial Relationship shall mean a relationship in which one person is a recipient of any kind of payment such as by way of a loan or gift from a Designated Person during the immediately preceding twelve months, equivalent to at least 25% of the annual income of such Designated Person but shall exclude relationships in which the payment is based on arm’s length transactions.
Details of Persons with whom I share material financial relationship: Sl.No.Name of the PersonNote: Material Financial Relationship means a person who is a recipient of loan/gift amounting to not less than 25% of your annual income during the preceding 12 months, excluding arms’ length transactions.
Persons with whom such designated person(s) shares a Material Financial Relationship.
That, and really wanting to enjoy my whole process makes me happy to work like I do.