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deemed dividend u/s 2(22)(e)
A company has given loan to a partnership firm where one of the director is also a partner in the partnership firm. will 2(22)(e) be attracted ? What is the way to avoid it ?
Replies (4)
If the director holds more than 10% shares in a private company, 2(22)(e) gets triggered.
If the director holds more than 10% shares in a private company, 2(22)(e) gets triggered.
If the director also has substantial interest i.e 20% of share of profit in the partnership firm, then 2(22)(e) is applicable.
if his share of profit is less than 20 %, then not applicable.
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