Foreign deemed dividend
This query is : Resolved
20 April 2013
say, A ltd (A FOREIGN COMPANY) gives loan to B ltd and B ltd gives same loan to Mr. C who is holding 30% in A ltd and Mr. C is not holding shares in B ltd. All the shareholders of foreign company are Resident of India.
Whether there is any effect of Income Tax Act, 1961?
Whether there is any effect of Income Tax Act, 1961?
06 June 2013
In whose assessment. If it is in case of B Ltd. then nothing will come as deemed dividend.
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