LOAN TO SHAREHOLDERS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2010
CAN A COMPANY GIVE LOAN TO SHARE HOLDER & WHAT IS THEIR TAX TREATMENT
20 August 2010
Yes they can. But take care of Sec 2(22)(e) Deemed Dividend. If shareholder holds more than 10% shares in company and the company the same can be taxed as deemed dividend in the hands of Shareholders.
https://www.caclubindia.com/articles/deemed-dividend-section-2-22-e-of-income-tax-act-1961-6121.asp
Check above link for detail article on Deemed dividend.
https://www.caclubindia.com/articles/deemed-dividend-section-2-22-e-of-income-tax-act-1961-6121.asp
Check above link for detail article on Deemed dividend.
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2010
Thanks
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