Carry forward
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 August 2011
The company has been purchased by acquiring its share from the shareholders. Name of the company is same as it was earlier. PAN is same. Can earlier losses before the purchase of share/company can be carried forward.
Please advise.
Please advise.
28 August 2011
See Section 79 of the Income Tax Act 1961. it applies to Private Limited Companies only.
If Your Company is Pvt. Ltd. then you cannot carried forward the earlier losses
If Your Company is Pvt. Ltd. then you cannot carried forward the earlier losses
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2011
Thanks Mr. Rajeev
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