10 December 2016
Dear Experts An individual is director in pvt. Ltd. Company say ABC pvt. Ltd the company has given the interest free loan to director Rs. 10 Lakh who is only director not share holder. Pls let me know in this scenario weather this Loan amount shall be taxable in the hand of employee or not treating it as deemed dividend?
11 December 2016
Whether Director is an employee ? Whether the loan facility is available and actually given to other employees on same terms and conditions?