Sec 2(22)(e)

This query is : Open

Arvind (Querist)
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01 August 2011 I want ot file my IT Return for last two F.Y.2008-09 and 2009-10. and my income tax liability is coming NIL. can i file my return now or not or is there some condition.
please suggest me.

Thanks

C.A ANUJ MEHTA

C.A ANUJ MEHTA (Querist)
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01 August 2011

When Closly held co. give loan to its subsidary co. weather sec 2(22 (e) is applicable

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2011 You can file only for Fy 2009-10. Time limit has expired for Fy 2008-09. For 2008-09 last date was 31.03.2011 and for Fy 2009-10 last date is 31.03.2012

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2011 Yes. Sec 2(22)(e) will be applicable provided the subsidiary company holds 10% or more shares in that closely held company.

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