Demerger - conditions for availing tax benefits

This query is : Resolved

Sridhar (Querist)
Follow

26 May 2009 Whether any Notification has been issued under Section 72A(5) for availing benefit of carry forward and set off of losses and depreciation on demerger.

If so, please provide the No. and date and if possible the content of the notification.

taxindiaconnect

taxindiaconnect (Expert)
Follow

28 May 2009 The condition for demerger are provided in section 2(19AA) the text is as following. You can see this section for this purpose

Circular no 350 Has been issued in 1982 on 72A for issuing such guidelines on amalmagations Hope this serves your purpose. Please see my Blog for the content of circular 350.