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Loan to Directors

(Querist) 05 September 2009 This query is : Resolved 
Sir,
the company as given loan to directors and it has been deducted in next financial year from the remunaration.but as per income tax loan has been become a demmed income in the hand of directors.in this case there any rule that can we save the penlty
Vineet (Expert) 13 December 2009
The matter has been replied in subsequent query under deemed dividend provisions.


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