16 December 2010
can pvt. ltd. co. give loan and advances to relative of director ?
in our co. ,director having more than 10% share capital of the co.loan granting to relative, who is not shareholer of the co, @10% int. for his personal purpose.no any single rupee or any indirect benefit will trf to director.
will it come under deemed dividend U/s 2(22)(e) of IT act ?
CAclubindia
