Any option we can explore for tax benefits other than merger
This query is : Resolved
04 November 2008
TThe company was incorporated on Dated 14th July 2004 . The company started Restaurant operations in the May 2005 . The company got registered trade mark as for various categories of business .
The restaurant business was continued by the company till March 2008 . The Company has also exported frozen food to United Kingdom . Due to heavy operational cost the following losses as per income tax are accumulated .
Carried forward Losses as per Income Tax
Financial Year Amount of
2004-05 2005-06 91,34,695/-
2005-06 2006-07 2,69,66,192/-
2006-07 2007-08 6,99,24,454/-
2007-08 2008-09 6,62,82,482/-
Kindly advise if there is any option available with the company to avail tax benefit .
As per the provisions of Section 99.1 amalgamation we are not able to meet the requirement of Clause C ( Keeping 3/4 assets continously ).
Can any other method we can opt for amalgamation .
The restaurant business was continued by the company till March 2008 . The Company has also exported frozen food to United Kingdom . Due to heavy operational cost the following losses as per income tax are accumulated .
Carried forward Losses as per Income Tax
Financial Year Amount of
2004-05 2005-06 91,34,695/-
2005-06 2006-07 2,69,66,192/-
2006-07 2007-08 6,99,24,454/-
2007-08 2008-09 6,62,82,482/-
Kindly advise if there is any option available with the company to avail tax benefit .
As per the provisions of Section 99.1 amalgamation we are not able to meet the requirement of Clause C ( Keeping 3/4 assets continously ).
Can any other method we can opt for amalgamation .
05 November 2008
Not any that I can think of!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query Regarding on TDS section 194H and 194J
- Fixed Deposit Claim Relinquishment by the Nominee
- NR GST NUMBER
- ITR 6 Schedule CFL and UD Issues
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- TDS RATE ON RENT PAID TO NRI
- Not a CA , can we prepare balance sheet
- FREELANCING ACCOUNTANT
- GST Form ADT-02
- For REQUIRE INDIVIDUAL GST
- Query reg: Accounting standard, Indian Accounting Standard, IFRS, GAAP, Cost Audit, Frontend audit
- GST Refund SB005 Error
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
