Income Tax Act, 1961 distinguished a closely held company from widely held company significantly from the viewpoint of:
A. Tax levied at different rates
B. Section 2(22)(e) where certain payments made to shareholders are treated as deemed dividend
C. Allowed to carry forward its business losses only if the conditions specified in section 79 are satisfied
D. Both (b) and (c)
Answer:D
Income Tax Act, 1961 distinguished a closely held company from widely held company significantly from the viewpoint of:
A. Tax levied at different rates B. Section 2(22)(e) where certain payments made to shareholders are treated as deemed dividend C. Allowed to carry forward its business losses only if the conditions specified in section 79 are satisfied D. Both (b) and (c)