Deem divident

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 August 2012 Dear Expert,

My pvt ltd company taken loan from sister concern pvt ltd company where both company director are same.

please suggest me what is the impact as per income tax law.

and am paid interest on the loan amt this prcedure is right or wrong otherwise should i liable to pay tax as in deem devident.

Thanks
Shamrila

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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30 August 2012 Deemed Dividend is Not Applicable in This Case.

Even No Relatives Under AS18.

Just Reporting is Required as Per Revised Schedule Bcoz It Now Included Same Director.