Dear Experts.
FACTS.
Mr. A (Director of ABC Pvt Ltd co) holds 50% shares and his wife holds remaining 50% shares.
ABC Pvt Ltd has negative balance in Reserves.
Mr.A wants to take over the assets of the Company worth Rs 1 crs and also liability of the company worth Rs.1 crs
weather deemed dividend provision will apply??
if not then any other tax liability on company or Mr.A.???
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Deemed Dividend on Asset & Liability Taken by Shareholder
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Deemed dividend on asset and liability by shareholder.
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