Sec.2 (22)e of it act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 August 2012
Is this section apply to a Private company if a amt. of Rs. 25000/- given by company to director's nephew.
17 August 2012
It does apply to PRIVATE companies. But it will not apply to nephew case.
Message likes :
1 times
17 August 2012
hi.. section 2 (22) (e) has no relation with director, it is connected with the shareholder, therefore at first if ur director happens to be holding more than 10% shares of the company, the trasaction will attract the provision of this section. Although the same is not applicable for transaction with relatives of Shareholder, however if the transaction has taken place to give benefit to shareholder i.e. ur director in this case, the transaction will fall under the scope of the section.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 2 Short Term gain & Long term gain
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- TDS 194R on GST effected
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
