deem devidend

if i am taken a loan and advance  from my sister concorn company and clear the same year (before the 31-mar) then deem devident liabiliaty impose on me or not

Replies (1)

Section 2(22)(e) is attracted as soon as loan is given, either directly or indirectly, by closely held company to its shareholder who has 10% or more voting rights. The chargeability attracts at the time of giving the loan and not on year end position

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