Deemed dividend
This query is : Resolved
02 July 2012
A company has given loan to the director.The assessing officer during assessment of the director taxed this loan in the hands of the director at applicable slab rates.The A.O. of the company is ignorant of this.
Now what entry will the company pass so that Director's loan outstanding in the books of the company will be rectified.
Now what entry will the company pass so that Director's loan outstanding in the books of the company will be rectified.
02 July 2012
Please check whether that Director holds more than 10% shares in that company. If not deemed dividend will not be applicable.
To rectify this director needs to repay the loan and square it off.
To rectify this director needs to repay the loan and square it off.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- 115-BAC-for AOP-private discretionary trust
- Insurance make against any item and later get insurance claim received
- Cgst asmt - 10
- IN PAGHDI SYSTERM . RENT RECPT CHANGE OF NAME AFTER FAMILY PARENTS TO SON
- E-Invoice applicability related question
- CAN a GSTIN registered under rule 14A opt for composition scheme without withdrawal from rule 14A ??
- Refund Claim in Next Year
- Employee claim Expnese Invoices
- Reduce fine on my company
- Delisted shares
- Journal entry of TDS operative a/c dr (under withdrawal side of bank a/c)
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- INCOME TAX QUERY FY25-26()\
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
