Loan to Directors

hussain (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

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Vineet (Expert) 13 December 2009
The matter has been replied in subsequent query under deemed dividend provisions.

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