deemed dividand.

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Querist : Anonymous

Querist : Anonymous (Querist)

02 July 2010 hii friends...
private co. has 2 shareholder. out of one is member of one huf which has taken loan from that private limited. in that case whether provision of 2 22 e is applicable??

also private co. has given loan to spouse of shareholder then whether this provision is applicable?

the shareholder is holding 50% share in both cases..

thanks...

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 July 2010 Sec 2(22)(e) will not be attracted in both cases as loan is not advanced to shareholders, but remember the interest should be charged on such loan

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