DEEMED DIVIDEND
This query is : Resolved
15 February 2011
ABC IS A FIRM CONVERTED INTO COMPANY. IN FIRMS ACCOUNTS THERE ARE LOANS OUTSTANDING FROM THE SHAREHOLDERS. AFTER CONVERSION INTO COMPANY WHETHER DEEMED DIVIDEND WOULD APPLY?
PLEASE REPLY .
ITS URGENT
PLEASE REPLY .
ITS URGENT
15 February 2011
Yes the Deemed Divided Sec 2(22)(e) will be attracted.
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