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Income tax on loan given

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(Querist)
30 May 2019 Respected Sir,

A private limited company has given some loan to some other pvt ltd company. Whether there will arrive certain income tax liability on loan received ?

Please let me know the section also.
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Zeal Bangdiwala

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Zeal Bangdiwala (Expert)
04 June 2019 Your case can be covered by Section 2(22)(e) deemed dividend. If both the companies have common shareholder having substantial interest then the loans/advance given can be treated as deemed dividend in the hands of the shareholder.

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