Sec 2(22)(e)

This query is : Open 

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

01 August 2011

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

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

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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