Payment by way of loan/advance by a closely- held company is treated as deemed dividend if it is given to a shareholder holding or more of equity shares in the company or to a concern, in which such shareholder holds at least ………….. or entitled to at least
A. 10%, 20% equity shares, 20% income
B. 10%, 20% equity or preference shares, 20% voting power
C. 10%, 20% equity or preference shares, 20% voting power
D. 20%, 10% shares , 10% voting power
Answer:A
Payment by way of loan/advance by a closely- held company is treated as deemed dividend if it is given to a shareholder holding or more of equity shares in the company or to a concern, in which such shareholder holds at least ………….. or entitled to at least
A. 10%, 20% equity shares, 20% income B. 10%, 20% equity or preference shares, 20% voting power C. 10%, 20% equity or preference shares, 20% voting power D. 20%, 10% shares , 10% voting power