12 August 2024
Deemed Dividend u/s 2(22)(e) covers Payment of any sum (whether representing a part of the assets of the company or otherwise) by way of advance or loan to a shareholder (and payment to concerns in which such share holder holds substantial interest); My question is whether the above clause will be applicable if Pvt Ltd Company advances or gives loan to LLP and in both concerns directors held more than 10% shares and voting power ?
CAclubindia
