Deemed dividend
Vatsal (Student) (453 Points)
12 March 2018
Pvt ltd co has paid 75 lacs to the shareholder having 13%interest. Now any way to avoid 2(22)e??
8 Replies
Srinivas Pyata
(543 Points)
Replied 12 March 2018
yes.
it is deemed dividend but to the extent accumulated profits
so please let me know the accumulated profits of the company
it is deemed dividend but to the extent accumulated profits
so please let me know the accumulated profits of the company
Srinivas Pyata
(543 Points)
Replied 12 March 2018
Accumulated profits are more than Loan amount hence total loan amount will treat as deemed dividend as per Section 2(22)(e)
sagar parakh
(189 Points)
Replied 12 March 2018
if u can prove that loan is given for commercial expediency...there are case laws which justifies that loan given in commercial expediency will not attract deemed dividend provisions.
Vatsal
(Student)
(453 Points)
Replied 12 March 2018
Commercial expendiency means in the course of business??
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