Applicability of Income Tax on Sick Company
This query is : Resolved
Manish Kashyap
(Querist)
16 December 2009
company xyz is a sick company in preceeding two financial years. In 2008-09, its net worth exceeds its accumulated losses. Will income tax and other provisions applicable for FY 2008-09 or from next year?
KRISHNA KUMAR R C
(Expert)
17 December 2009
Income Tax act is applicable to all the Companies whether it is healty or sick.
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