Deemed Dividend u/s 2(22)(e)
This query is : Resolved
30 October 2008
Whether loan by a foreign holding company to its Indian subsidiary would attract the provisions of S. 2(22)(e)of the Income Tax Act ?
S.Srinivasaraghavan
(Expert)
30 October 2008
definition of company in IT Act includes
a foreign body corporate as well.
a foreign body corporate as well.
30 October 2008
With reference to inter corporate loan/deposit permitted under the Companies Act, how to prove it to the income tax department that the loan extended to a holding or subsidiary is really a loan or deposit so that it will not attract the provisions of deemed dividend.
Regards,
R. Raman
Regards,
R. Raman
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