what is deemed dividend any reference if possible please
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What is deemed dividend
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if private company gives any advances (in the nature of loan) to directors or his relatives or any concern in which diretors or his relatives have interest, such advances is deemed to be income in the hand of receipient eventhough such advances are repaid
read sec 2(22)(e) of the Income tax Act.
thanks
thanks
I think not only private companies all companies other than widely held companies will be covered under this provision.
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