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deemed dividend

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(Querist)
11 July 2017 logic behind section 2(22)e loan or advance given to the shareholder to the extent of accumulated profit is deemed as dividend??
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Ashiwini Ballodia

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Ashiwini Ballodia (Expert)
12 July 2017 It is for closely held company. The logic behind this is that the company doesnot pass on the profit to the interest party by way of loan

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