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Under section 2(22) (e) of the Income-tax Act, 1961, any payment (to the extent of accumulated profits) by a closely-held company by way of loan or advance to its shareholder, being a person who is the beneficial owner of shares, holding, is deemed as dividend.

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The syllabus (and study weightage):
A. Advanced Direct Tax Laws 50%
B. International Taxation 30%
C. Case Study Analysis 20%


Under section 2(22) (e) of the Income-tax Act, 1961, any payment (to the extent of accumulated profits) by a closely-held company by way of loan or advance to its shareholder, being a person who is the beneficial owner of shares, holding, is deemed as dividend.






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