Deemed dividend (loan)

Hi , Provision of section 2(22)(e) of income tax act will only be applicable if that director hold 10% for more of equity shares of the company and for the loan to directors you need to refer to section 295 of companies act 1956 but if it is a private company it will not be applicable .

as per my knowledge sec 295 applicable to pvt ltd company also it is treate deem dividended