Deemed dividend
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 May 2015
Debit balance of a Director, who is not a shareholder, will be treated as Deemed Dividend ?
CA Kanj Goel
(Expert)
19 May 2015
No as provisions of section 2 22 e applies applies only when loan or advance given to shareholders holding more than 10% shares in the company or to any entity in which shareholders having substantial interest.
You may note provisions of section 185 of companies act 2013may get applied in this case.
You may note provisions of section 185 of companies act 2013may get applied in this case.
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