Whether deemed dividend under sec. 2(22)(e) will be deductible in the books of accounts of unlisted company from accumulated profits
1 Replies
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 28 December 2013
Dividend in any form is not allowable as a deduction in Income Tax Act. Also the same will not be reduced from accumulated profits from books of accounts.
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