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change in shareholding of more than 51%

KKG (C.A. firm) (29 Points)

14 September 2008

Hi,

There is a change of more than 51% sharecapital of our client (which is a non listed Ltd. co.) in previous financial year.

Is there any restriction in Income Tax to carry forward losses of the above co. due to change in shareholding pattern

Regards,

M.L.Shamra

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1 Replies

Mahesh.k. (Data Analyst ) (195 Points)
Replied 14 September 2008

Hi,

First of all its not a listed company even though it should remitt the same to R.O.C. regarding the subsequent changes and the company can continue with its regular filing of income tax returns , it could effect only if the change showed any impact on the current profits of the firm its no matter whether it is a listed or not as per my knowledge if any additional info regrarding to this I to curious to know.......................