The provisions of “deemed dividend” under section 2(22)(e) of the Income Tax Act, 1961, in respect of advances or loans to shareholders, or any payment on behalf of shareholders or any payment for the individual benefit of a shareholder are applicable to:
A. A Public Limited Listed Company
B. A Public Limited Unlisted Company
C. A Closely held Company
D. None of the above
Answer:C
The provisions of “deemed dividend” under section 2(22)(e) of the Income Tax Act, 1961, in respect of advances or loans to shareholders, or any payment on behalf of shareholders or any payment for the individual benefit of a shareholder are applicable to:
A. A Public Limited Listed Company B. A Public Limited Unlisted Company C. A Closely held Company D. None of the above