Sec 2 (22) e
This query is : Resolved
01 April 2012
Whether distribution of resreves to director (who are shareholder's holing more than 10% share) will be deemed dividend as per sec 2(22)e.?
01 April 2012
Yes it is deemed dividend u/s 2(22)(e).
02 April 2012
It will amounts to double taxation..
Because reserve was already taxed in the hands of comapny..
So is it logical??
Because reserve was already taxed in the hands of comapny..
So is it logical??
03 April 2012
Yes, it is taxable but not under sub section (e), but sub section (a).
Eventhough it is double taxation, it is clearly specified in Sec 115O that DDT is over and above the normal tax.
Hope this clarifies ur query.
Eventhough it is double taxation, it is clearly specified in Sec 115O that DDT is over and above the normal tax.
Hope this clarifies ur query.
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