Deemed dividend
This query is : Resolved
10 April 2014
Dear Sir,
Whether the Service Tax, Income Tax, TDS paid by a company on behalf of a proprietorship concern controlled by a director of the company which pays the taxes will covered by section 2 (22) (e). The tax has been paid by the company because there is no online facility available with the director’s individual bank accounts.
Kindly clarify.
Regards,
Murali
Whether the Service Tax, Income Tax, TDS paid by a company on behalf of a proprietorship concern controlled by a director of the company which pays the taxes will covered by section 2 (22) (e). The tax has been paid by the company because there is no online facility available with the director’s individual bank accounts.
Kindly clarify.
Regards,
Murali
10 April 2014
Yes, section 2(22)(e) attracts.
Citation :- CIT Vs. K. Srinivasan [1963] 59 ITR 788. It is a Madras High court decision based on 1922 act.
Citation :- CIT Vs. K. Srinivasan [1963] 59 ITR 788. It is a Madras High court decision based on 1922 act.
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