Deemed dividend u/s 2(22)(e)
This query is : Resolved
09 October 2012
is public limited company pay remuneration to its directors more than 11% of profit before tax? is in assessment, commissioner can raise question on it & considered more than 11% remuneration as deemed dividend?
Manish Khandelwal
(Expert)
09 October 2012
Deemed dividend U/S 2(22)(e) is applicable on closely held companies not on public companies.
Manish Khandelwal
(Expert)
09 October 2012
1. your query is defining a public co. not private company.
2. sec 2(22)(e) is applicable when a shareholder takes loan from such co. or a firm in which he is partner.
2. sec 2(22)(e) is applicable when a shareholder takes loan from such co. or a firm in which he is partner.
09 October 2012
its closely held public ltd.co., hence, director is the share holder.
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