Section 2(22)(e)
This query is : Resolved
13 November 2013
Mr. A hold 25% of the equity shares in lmn ltd. a listed company. he has borrowed sum of Rs. ten lakhs from this company on 21.03.13.as on this date, the accumulated profit and free reserves are rupees eigth lakhs. yhe deemed divided taxable under section 2(22)(e) of the income tax act, 1961 is Rs.-------
14 November 2013
Dividend U/S 2(22)(e) is taxable to the extent of accumalated profits ( excluding capitalized profits).The taxable amount in your case is Rs. 8 lakhs.
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