Shareholding of Directors
This query is : Resolved
09 July 2009
If shareholding of one of the directors increases more than 10% in a private company then what will be consequences and any remedy for that??
Thanks & Regards
Vandana
Thanks & Regards
Vandana
09 July 2009
I have asked this question from income tax point of view i.e. whether it will be considered deemed dividend or somthing else??
09 July 2009
In such a situation,if any payment is made to that shareholder and if the company is a profit making company or has accumulated profits, that particular payment will be treated as deemed dividend.
For full details your attention is invited to section 2(22)(e) of the Income tax Act,1961 in www.incometaxindia.gov.in
For full details your attention is invited to section 2(22)(e) of the Income tax Act,1961 in www.incometaxindia.gov.in
09 July 2009
Thanks a lot Sir for clarification.
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