Sec 2(22)(e)

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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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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...

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

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