Benifit of Amalgamation
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2011
One of my clint co is amalgamating with a loss making comany for getting tax benifit. it has file pition in court before 31.03.11. Now if all fomalities of courts get effected before 30th sep.11 than is it possible to get tax benifit for this assessment year. Pls qoute section also.
CA PARAS BAFNA
(Expert)
29 June 2011
There is a term known as "appointed date".
Such Appointed date is mentioned in the scheme of amalgamation which has been filed before the court.
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In case the court does not give any direction in this regard the "appointed date" given in the scheme is treated the date from when such scheme becomes effective.
*
Such Appointed date is mentioned in the scheme of amalgamation which has been filed before the court.
*
In case the court does not give any direction in this regard the "appointed date" given in the scheme is treated the date from when such scheme becomes effective.
*
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