Deemed Dividend -Maybe ,Maybe Not!

Ravikumar.G , Last updated: 24 September 2007  
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If a pvt. company provides security to a bank, on the basis of which the bank gives loan to a director who is also a majority shareholder, would the loan amount be considered as deemed dividend ? No, the amount of loan shall not be considered as deemed dividend . The reason is that Section 2

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Ravikumar.G
(Consultant)
Category Income Tax   Report

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