deemed dividand
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2010
if private company gives loan to one of its directors huf then section 2 (22)(e) is applicable or not???
02 June 2010
Yes it is applicable.
02 June 2010
YES APPLICABLE IF HUF HOLDS MORE THAN 10% OF SHARES IN THAT COMPANY AND COMPANY ADVANCING LOAN HAS SUFFICIENT BALANCE IN ITS RESERVE & SURPLUS AND THAT PVT LTD COMAPNY IS NOT A NBFC.
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