Deemed dividend - where huf is a partner in the firm
This query is : Resolved
16 April 2012
Hello,
Assume there is a pvt ltd company XYZ with Directors X, Y, Z (each holding 33% shares) and this company gives a loan\advance to a Firm ABC in which 'X'(huf) is a partner.
Does this situaltion attract Deemed dividend?
Assume there is a pvt ltd company XYZ with Directors X, Y, Z (each holding 33% shares) and this company gives a loan\advance to a Firm ABC in which 'X'(huf) is a partner.
Does this situaltion attract Deemed dividend?
16 April 2012
Sec 2(22)(e) could be attracted if the director holds more than 20% in the firm.
16 April 2012
NO IN THIS CASE THE CONCERN TO WHOM LOAN IS GIVEN IS NOT BENEFICIALLY OWNED BY X
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
