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Deemed Dividend

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(Querist)
22 September 2009 Mr. X is karta of HUF. Mr.X is director and shareholder holding more than 10% shareholding in a company. The company gives loan to the HUF. Does this amount to deemed dividend u/s 2(22).
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C.A.Harish Singh

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C.A.Harish Singh (Expert)
23 September 2009 Yes it will be deemed dividend u/s 2(22)e.
U/s 2( 22) e when a company gives a loan or advansed to a person who hold more than 10% shareholding in that company or a concern in which that person hold substancial interest then it will be deemed dividend u/s 2(22)e.
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
24 September 2009 I have a bit different opinion. In your case No subject to some other conditions satisfied as mentioned in 2(22)e
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Gaurav

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Gaurav (Querist)
24 September 2009
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