Carry forward of losses
This query is : Resolved
10 August 2016
There is a company having carried forward losses. The company is merging with another company. whether losses of merging company can be adjusted against profits of merged company?
10 August 2016
yes, it is possible. refer section sec 72A
http://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
http://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx
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