Section 2(22)(e) - deemed dividend
This query is : Resolved
Tejas Dhami
(Querist)
03 August 2012
One of my client company has advanced money to its director and then has settled the same in the same year against salary and performance incentive to be paid to the director.
Will this attract Section 2(22)(e)?
Can we claim that the advance was against salary and therefore Section 2(22)(e) is not applicable?
Pls Reply.
Thank you
Will this attract Section 2(22)(e)?
Can we claim that the advance was against salary and therefore Section 2(22)(e) is not applicable?
Pls Reply.
Thank you
CA Hardik Bunha
(Expert)
03 August 2012
section 2(22)(e) will not be applicable.
CA CS Amit S. Kedia
(Expert)
03 August 2012
If your Salary is aleady due or advance is given just a few days before the payment of actual salary and if it can be proved effectively by the assesse then only section 2(22)(e) will not be applicable otherwise applicable.
Also, the amount of advance also matters.
Also, the amount of advance also matters.
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