Deemed Dividend U/s 2(22)(e)
This query is : Resolved
28 November 2009
If the amount has been paid to the partnership concern by a pvt. Ltd. Co.where in partners of the firm are having subtantials share holding under a business agreement for acquiring the business interest of the partnership firm, will attract provisions of deemed dividend?
28 November 2009
The payment is made by the private limited company to a partnership firm. If any one of the partners of the partnership firm is holding not less than 10% shares in the private limited company and 20% in the partnership firm, then deemed dividend would be applicable.
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