Section 2(22)(e)
This query is : Resolved
RUCHIKA PHADNIS
(Querist)
04 July 2014
if a director is holding stake more than 20% in the company, the company has paid self assessment tax on behalf of director which is reimbursed by him within 3-4days, in this case whether section 2(22)(e) will be applicable? there is no any other loan given by the company to the director.
04 July 2014
yes as it fits in definition of advance given.
Rupesh Jain
(Expert)
04 July 2014
it is consider as advance and tds will deduct u/s 2(22)(e) to extent company accumulated profit.
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