disbursement loan taken by private company
This query is : Resolved
31 March 2011
'A' private company has taken a loan of Rs.10 crs. The co. wants to distribute the loan to 3 private cos. comprising almost same directors and 3 partenership firms. Please suggest in which form the loan taken by co.A should be given to the said mentioned companies and firms? Urgent..
01 April 2011
You may be covered by Sec 2(22)(e) - Deemed Dividend of the Income Tax Act.
A way out is give subscription money for preference shares and later on when the purpose is satisfied, get the money back.
If the money is not going to come back, then issue OFCD at lower rate and long tenure.
Take care about the valuation of there companies before doing any transaction.
A way out is give subscription money for preference shares and later on when the purpose is satisfied, get the money back.
If the money is not going to come back, then issue OFCD at lower rate and long tenure.
Take care about the valuation of there companies before doing any transaction.
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Clarification Required on Filing Form 141 for Joint Buyers
- HOUSING LOAN ISSUE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- GST Rate for Catering Services
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- LIC maturity claim whether taxable
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
