deemed dividend
This query is : Resolved
CA Vineet Sharma
(Querist)
13 June 2011
Does advance rent & advnace salary come under the head of deemed dividend if paid to a person having 11% shareholding in closely held company?
CA Harish Suwalka
(Expert)
16 June 2011
Advance rent will be deemed as dividend even if the amount received under the lease agreement, (not as a shareholder but as a landlord) or even if it has to be adjusted against future rent
( CIT vs PS abubucker[2004],madras high Court)
( CIT vs PS abubucker[2004],madras high Court)
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