Section 2 (22) (e)
This query is : Resolved
18 September 2009
My client has paid Rs.955000 to a director as loan. Now for me , is there any remedy available to save I-tax liability of the Director ?
18 September 2009
No remedy because even if the loan or advance ceased to be outstanding at the end of the previous year, it can still be a deemed dividend if the other four conditions factually exist to the extent of the accumulated profits possessed by the company.
Citation : - Miss.P.Sarada Vs. CIT (1998) 96 Taxman 11 (SC).
Citation : - Miss.P.Sarada Vs. CIT (1998) 96 Taxman 11 (SC).
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- 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
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
