Related party transaction

LOAN GIVEN BY DIRECTOR TO THE COMPANY IS COMES UNDER  RELATED PARTY TRANSACTION?

Replies (2)

Yes it is related party transaction as per 40b of IT act.

Sec 2(22)(e) deals with deemed dividend.

Type of Company
a Closely Held Company i.e., a Company in which the public is not substantially interested.

 

for more detail visit this link:

https://profsindia.com/forum/topic/deened-dividend-transaction/#post-6145

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