Sec 2(22)(a)
This query is : Resolved
06 August 2014
what is the interpretation of "dividend include any distribution of asset by the company to its shareholder by a company to its shareholders to the extent the company possesses profit, whether capitalised or not"
06 August 2014
it refers to distribution of accumulated reserves whether capital or revenue.
06 August 2014
If a going concern company having accumulated profits distributes all/any part of its assets to the shareholders, then the value of such distributed assets to the extend of the accumulated profits will be treated as dividend in the hands of the respective shareholders u/s. 2(22)(a) of the Income tax Act,1961.
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