Sec 2(22) e of income tax act

S.Rajalakshmi (student) (29 Points)

26 July 2013  

Sir,

     One of Our Client( a closely held company)  have granted loan to another Company(which is also a closely held company)  in which the Director of the Company having Substantial interest

Also the Director holds more than 10% of voting power in the company which granted the loan.

What are the implications under Sec 2 (22) e of income tax act ?

What are the other implications under the other laws or any other section in income tax act