A private company provides loan or advance to a public company with one common shareholder in both the companies. The said shareholder holds 25% shares in the private company and 30% shares in the public company. Will the provisions of section 2(22)(e) be applicable on the shareholder? Please provide the solution with suitable reccomendation for tax planning with case laws (URGENT)
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Deemed dividend
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Yes section 2(22)(e) is applicable.
please check the below link/articles/deemed-dividend-section-2-22-e-of-income-tax-act-1961-6121.asp#.UrQRm9IW3p8
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