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Loans & Advances by closely held company deemed as Dividend Sec. 2(22)(e)

Income Tax - Income from Other Sources - 12 - SEC - 2(22)(e): LOANS & ADVANCES BY CLOSELY HELD COMPANY DEEMED AS DIVIDEND DIVIDEND INCLUDES any payment by a company not being a company in which public are substantially interested, of any sum by way of loan or advance to i. a shareholder being the beneficial owner of shares ii. holding not less than 10% of voting power or i.to any concern in which such shareholder is a member or a partner and in which he has a substantial interest or i. to an .....

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