Sec 2(22)(e)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
A pvt ltd co. having share capital and whose shares are not listed in stock exchange, provides loan to its director....
whether section 2(22)e will be applicable in the above case????
pl rply
whether section 2(22)e will be applicable in the above case????
pl rply
01 September 2011
If the said company had accumulated profits, section 2(22)(e) attracts to that extent or loan given which ever is less.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
thnx for ur rply sir...
01 September 2011
Deemed dividend u/s 2(22)(e)is attracted provided 10% or more shares in the said company is held by the directors.
The said loan amount will be treated as deemed dividend and added with the income of the director.
The said loan amount will be treated as deemed dividend and added with the income of the director.
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