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Applicability of section 2(22)(e), Income Tax |
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Applicability of section 2(22)(e) |
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A closely held company pay loan/advance to another group company common shareholder having substantial interest. Whether the payment of such advance/loan attract deemed dividend u/s 2(220(e)?. If advance against property/shares given then, provisions of section 2(22)(e)be applicable or not?. Any tax planning or case law to come out of purview of 2(22)(e). Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Critically examine if clause apply to the person/ company to whom loan is to be given
Loan given in course of money lending business when money lending is sumstantial business, then the deeming provision shall not apply.
even trade deposit or advance may be covered.
Investmetn in shares and securities of such shareholder company may not attract S. 2(22)(e).
One can purchase from security holders (not by directly subscribing) bonds/ debentures of shareholder company. In case of market purchase there will be no payment to shareholder.
go on brain storming.
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