09 February 2012
Any debit balance appearing in Directors Account even for few days... 1.Is it treated as deemed income under section 2(22)e 2. What if the director is holding less than 10% of share capital. 3.Company is a Listed company 4. Any implication as per Co's Act?
Appreciate if you could share your views / advice..
09 February 2012
SECTION 2(22)(E) APPLIES ONLY TO CO IN WHICH PUBLIC ARE NOT SUBSTANTIALLY INTERESTED A LISTED CO IS NOT SUCH A CO HENCE NO TAX CONSEQUENCES WILL BE THERE CA MANOJ GUPTA JODHPUR 09828510543
CAclubindia
