Deemed dividend
This query is : Resolved
Abhijit Rane
(Querist)
14 June 2016
WHETHER INTEREST BEARING LOANS GIVEN TO A MD WHO IS ALSO A SHAREHOLDER HOLDING MORE THAN 20% SHARES WILL ATTRACT DEEMED DIVIDEND.?
COMPANY HAS BORROWINGS AND FREE RESERVES.
COMPANY HAS BORROWINGS AND FREE RESERVES.
14 June 2016
By reading section 2(22)(e) I dont feel that deemed dividend provisions will be applicable for interest paid on loans given by MD.
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