What will be the amount of Deemed Dividend and who is liable to pay the DDT ?
A Ltd having his office, on Rent of Rs. 50 lakh Annually, in the premises of B Ltd. Managing Director of A Ltd holds 10% shares in A Ltd. and he is also having substantial interest in B Ltd.
A Ltd. pays Rs. 1.50 Crores as an advance for 3 year as per the terms and conditions of the rent agreement.
A Ltd having his accumulated Profit Rs. 74 Lakhs.
Question is whether any amount treated as deemed dividend ? & who is liable to pay DDT..
CAclubindia
