Benifit of loss of existing co. to new/purchare co.
This query is : Open
CA Shailendra Agrawal
(Querist)
05 August 2011
Dear all,
please answer that if a private limited company is incurring heavy losses for last two years (since incorporation) and there is no hope of recovery in near future, how can it take the benefit of tax by selling/demerge/amalgamate/any other way itself with any other company.
please answer that if a private limited company is incurring heavy losses for last two years (since incorporation) and there is no hope of recovery in near future, how can it take the benefit of tax by selling/demerge/amalgamate/any other way itself with any other company.
CA PARAS BAFNA
(Expert)
07 August 2011
It can get benefit by amalgamation or merger only.
Demerger is possible where something is right in respect of any of the units of the company.
By selling, you can realise the net worth
only which can not be said as a benefit.
Demerger is possible where something is right in respect of any of the units of the company.
By selling, you can realise the net worth
only which can not be said as a benefit.
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