https://www.taxtmi.com/manuals?id=4685 Under deemed dividend rules in clause (22)(e) of section 2 of the Income-tax Act, 1961, a payment by a company in which the public are not substantially interested is treated as deemed dividend where, after 31 May 1987, the company makes an advance or loan to a shareholder who is the beneficial owner of shares carrying not less than ten per cent of the voting power, or to a concern in which such shareholder is a member or partner and has a substantial interest. The deeming fiction applies only to the extent of the company's accumulated profits. en-us Thu, 29 Aug 2024 11:09:00 +0530 Wed, 17 Jun 2026 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4685 Under deemed dividend rules in clause (22)(e) of section 2 of the Income-tax Act, 1961, a payment by a company in which the public are not substantially interested is treated as deemed dividend where, after 31 May 1987, the company makes an advance or loan to a shareholder who is the beneficial owner of shares carrying not less than ten per cent of the voting power, or to a concern in which such shareholder is a member or partner and has a substantial interest. The deeming fiction applies only to the extent of the company's accumulated profits. Manuals Income Tax Thu, 29 Aug 2024 11:09:00 +0530 https://www.taxtmi.com/manuals?id=4685