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deemed dividend

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(Querist)
10 June 2011 Payment of director's personal credit card later on deducted from their salary(Hold more then 10% shares of closely held company)
Is it falls under the head of Deemed dividend u/s 2(22) e
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s v rajesh

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s v rajesh (Expert)
10 June 2011 Hi,

Its doesn't fall under deemed dividend concept.
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CA Vineet Sharma

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CA Vineet Sharma (Querist)
10 June 2011 Could you tell me the reason since as per my knowledge even if we get the salary in advance it come under the deemed dividend and the credit card payment is like an advance since it for the personal use of director
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