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interest free loan

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(Querist)
29 May 2009 Can an individual take an interest free loan from a private limited company in which individual's relative is a director?

Pls reply its urgent!!!!!!!!!!!
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CA.BHARAT BHUSHAN

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CA.BHARAT BHUSHAN (Expert)
31 May 2009 Refer the section 2(22)(e). If it is applicable to your case, then it will be deemed dividend.

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