deemed dividend 2 22 e

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2011 In order to avoid the concept of deemed dividend we have advised to one of our client to revise the shareholding pattern of the company in such manner that director who gets the advance from the company reduces their holding below 10% of total share capital.

for this director has to transfer their shares to their minor child.

My question is whether while determining the shareholding of director whether the shareholding of minor child will clubbed or not.

Ajay Mishra

Ajay Mishra (Expert)
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05 January 2011 Hi

Director will be authorised representative of minor and miner will be consider as member. Director will not be consider for share transfered to minor for shareholding purpose.

Regards

Ajay Mishra

Ajay Mishra (Expert)
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05 January 2011 Hi

For details on minor shareholding read Chartered Secretary of December issue, published by ICSI.

Regards

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