Benifit of Amalgamation

Save Share

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

CA PARAS BAFNA (Expert)
Follow

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.

*
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.
*

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now