Deemed dividend
This query is : Resolved
31 October 2012
Please inform the tax implications of the following under the ambit of Sec-2(22)(e) wit logic & relevant case law, if possible:
1. A pvt ltd co is paying PF & ESI of a partnership firm i which two of its directors hold 50% voting power. The company is also a partner in the said firm. The partnership firm is reimburshing the suc to the company.
2. A Pvt Co company makes payment on behalf of shareolder olding more than 10% voting power & such amount is utilised for the benefit of such shareholder & spouse.
3. A Pvt ltd co who is engaged in the money lending business gives any advance to a person where such advance is utilised for the individual benefit of one of its shareholder holding more than 10% voting power.
Regards
1. A pvt ltd co is paying PF & ESI of a partnership firm i which two of its directors hold 50% voting power. The company is also a partner in the said firm. The partnership firm is reimburshing the suc to the company.
2. A Pvt Co company makes payment on behalf of shareolder olding more than 10% voting power & such amount is utilised for the benefit of such shareholder & spouse.
3. A Pvt ltd co who is engaged in the money lending business gives any advance to a person where such advance is utilised for the individual benefit of one of its shareholder holding more than 10% voting power.
Regards
01 November 2012
1 & 2 case its deemed dividend. in case 3 its normal business of company to lend money hence not taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
