LOAN GIVEN BY DIRECTOR TO THE COMPANY IS COMES UNDER RELATED PARTY TRANSACTION?
2 Replies
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 17 June 2017
Yes it is related party transaction as per 40b of IT act.
rajiv mishra
(businessman)
(45 Points)
Replied 19 June 2017
Sec 2(22)(e) deals with deemed dividend.
Type of Company
a Closely Held Company i.e., a Company in which the public is not substantially interested.
for more detail visit this link:
https://profsindia.com/forum/topic/deened-dividend-transaction/#post-6145
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