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Effect of deemed dividnd U/S 2(22)(e) on company

This query is : Resolved 

23 July 2008 hi
please clear me what does the effect in hand of company for deemed dividend u/S 2(22)e) on which dividend distribution tax is not applicable

is it taxable as part of income under PGBP and taxed as per 30% rate

30 September 2008 Yes ,it is taxable for payer @30%



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