https://www.taxtmi.com/manuals?id=1212 Loans or advances by a closely held company may be treated as deemed dividend when paid to a shareholder holding at least 10% voting power, to a concern in which such shareholder has substantial interest, or for the shareholder's individual benefit, to the extent of accumulated profits. The rule applies only to companies in which the public are not substantially interested, and certain business advances, set-offs, and specified cross-border intra-group transactions are excluded. The commentary also notes that repayment does not change applicability and that trade advances in commercial transactions are outside the provision. en-us Wed, 23 Sep 2015 16:36:00 +0530 Thu, 18 Jun 2026 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1212 Loans or advances by a closely held company may be treated as deemed dividend when paid to a shareholder holding at least 10% voting power, to a concern in which such shareholder has substantial interest, or for the shareholder's individual benefit, to the extent of accumulated profits. The rule applies only to companies in which the public are not substantially interested, and certain business advances, set-offs, and specified cross-border intra-group transactions are excluded. The commentary also notes that repayment does not change applicability and that trade advances in commercial transactions are outside the provision. Manuals Income Tax Wed, 23 Sep 2015 16:36:00 +0530 https://www.taxtmi.com/manuals?id=1212