About deemed divided
This query is : Resolved
15 October 2012
if a company gives a loan/ advance to a propritership firm then what should we do in that case by applying the provision of deemed dividend
15 October 2012
Firstly me assuming u as an auditor of the company.
Secondly, the proprietory firm is the one firm whose name is registered in the register kept U/s 301. i,e,, related party.
As an auditor the related party transactions are to be reported in annual reports of the company.
If u r tax consultant, then ask ur assessee to pay dividend tax on the amount of laon or advance given to such party.
Secondly, the proprietory firm is the one firm whose name is registered in the register kept U/s 301. i,e,, related party.
As an auditor the related party transactions are to be reported in annual reports of the company.
If u r tax consultant, then ask ur assessee to pay dividend tax on the amount of laon or advance given to such party.
20 October 2012
You have to pay Dividend Tax on which you have given loan to a related party to the extent of Reserve & surplus
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