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Section 2(22)(e)

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19 June 2008 There is Pvt. Ltd. Company. Its director withdraw some amt. for his personal purpose and ledger of that director on Co's books of a/c is under loans & Advances then whether it is taken to be as deemed dividend. If yes then whether company is liable for deduct TDS under section 194 on that amt.
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
19 June 2008 yes, it is deemed dividend. company needs to deposit dividend distribution tax u/s 115O. tds is not applicable.
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