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

CS Executive · Tax Laws and Practice · PYQS · December 2018
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 & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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