https://www.taxtmi.com/article/detailed?id=153 Share premium is a capital receipt, held in a separate share premium account and usable only for purposes authorised by the Companies Act; it is not income or accumulated profits. Therefore, advances or loans made by a company from amounts represented by share premium cannot be treated as deemed dividends under the provision that treats loans to substantially interested persons as dividends, except to the extent there are identifiable genuine accumulated profits. en-us Tue, 02 Sep 2008 00:00:00 +0530 Fri, 13 Mar 2009 17:06:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=153 Share premium is a capital receipt, held in a separate share premium account and usable only for purposes authorised by the Companies Act; it is not income or accumulated profits. Therefore, advances or loans made by a company from amounts represented by share premium cannot be treated as deemed dividends under the provision that treats loans to substantially interested persons as dividends, except to the extent there are identifiable genuine accumulated profits. Articles Income Tax Tue, 02 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=153