banner_ad

Tax Audit

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 June 2010 Dear Sir,
In a Private Ltd company, the Managing Director who is also a shareholder, taking money from company and deposit. The company classifies, the M.D A/c under the unsecured loans. Assume all transaction such as deposit and withdrawal by M.D is cash in excess of Rs. 20,000/-
Query:
1. Whether 269SS & 269T will hit for this deposit & withdrawal?
2. Whether it is in the nature of Deemed Dividend u/s 2(22)e?
3. The company taken money from M.D (Deposit) in excess of cash Rs. 20,000 can be construed as amount borrowed on hundi u/s 69D?
Profile Image

mohinder kansal

Profile Image

mohinder kansal (Expert)
22 June 2010 SECTION 269SS AND 269T SHALL BE APPLICABLE. SECTION 2(22)e WILL ALSO BE APPLICABLE IS THERE IS ADVACNE PAID
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details