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Deemed income

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(Querist)
24 July 2013 Query:- We have two companies and all directors are same in both company.

The two director are holding more then 10% equity shares .

one of above company given loan to another company and all director also give to loan. we are treating unsecured loan under Unsecured loan form corporate and loan from director.

My question is loan given and interest provided by that company attract any income tax provision

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CA Himanshu Sharma

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CA Himanshu Sharma (Expert)
24 July 2013 Dear Amit

Section 2(22)(e) gets attracted in the same case
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CA AMIT GANGWAL

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CA AMIT GANGWAL (Querist)
24 July 2013 Dear Himanshu

Thanks

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