09 July 2009
If shareholding of one of the directors increases more than 10% in a private company then what will be consequences and any remedy for that??
09 July 2009
In such a situation,if any payment is made to that shareholder and if the company is a profit making company or has accumulated profits, that particular payment will be treated as deemed dividend.
For full details your attention is invited to section 2(22)(e) of the Income tax Act,1961 in www.incometaxindia.gov.in
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