Substantial interest u/s 2(22)(e)

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..... Can you explain the meaning of Substantial interest u/s Sec 2(22)(e) - Reply By GOPALJI AGRAWAL - The Reply = Section 2 (22)(e) itself contains the meaning of the same as under: http://www.taxmanagementindia.com/visitor/detail_act.asp?ID=8614 - Reply By B L Bhojwani - The Reply = Shri Gopalji Agrawal has rightly pointed out that a bare reading of the provisions of section 2(22)(e) .....

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..... will provide the answer to your query. As per section 2(22)(e), any payment by a company of any sum (whether as representing part of the assets of the company or otherwise) by way of advance or loan to a shareholder will, to the extent the company possesses accumulated profits, will be deemed dividend. This will be, inter alia, subject to the condition that the payment should be to : (a) a .....

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..... beneficial owner of equity shares holding at least 10% of the voting power; OR (b) a concern in which, the above equity shareholder being beneficial owner of atleast 10% of the voting power, is a member or a partner and having a substantial interest. Substantial interest here means in case of a company beneficial holding of at least 20% of the voting power and in case of a concern other .....

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..... than company, which can be a Hindu undivided family, or a firm or an association of persons or a body of individuals, beneficial interest of 20% in the income of such concern. - Substantial interest u/s 2(22)(e) - Query Started By: - S SHANMUGASUNDARAM Dated:- 15-11-2010 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion T .....

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..... ax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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