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Deemed dividend

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Querist : Anonymous (Querist)
19 May 2015 Debit balance of a Director, who is not a shareholder, will be treated as Deemed Dividend ?

19 May 2015 No as provisions of section 2 22 e applies applies only when loan or advance given to shareholders holding more than 10% shares in the company or to any entity in which shareholders having substantial interest.
You may note provisions of section 185 of companies act 2013may get applied in this case.



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