Deemed Dividend
This query is : Resolved
bhagwati saran
(Querist)
07 January 2010
Dear All,
Good Day,
X Pvt. Ltd. paid as loan to Y Pvt. Ltd. Rs. 50 Lac on 30.11.09. Share holders are same in the both companies having 25% shareholing in each company. Rs. 50.00 was repaid to X Pvt. Ltd. on 01.01.2010.
Please advise what consiquenes will arise under Income Tax like Deemed Dividend u/s 2(22)(e) in the both companies in details.
Thanks & B'regards
Saran
Good Day,
X Pvt. Ltd. paid as loan to Y Pvt. Ltd. Rs. 50 Lac on 30.11.09. Share holders are same in the both companies having 25% shareholing in each company. Rs. 50.00 was repaid to X Pvt. Ltd. on 01.01.2010.
Please advise what consiquenes will arise under Income Tax like Deemed Dividend u/s 2(22)(e) in the both companies in details.
Thanks & B'regards
Saran
CA. B.SRINIVASULU
(Expert)
07 January 2010
If the transaction is in between 2 private limited companies then the question of deemed dividend will not arise.
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