carry forward of losses
This query is : Resolved
yogesh vijaykumar shah
(Querist)
10 September 2010
A Ltd is public ltd company but not listed company. The shareholding pattern of which is as under :-
A - 10%
B - 10%
C - 30%
D - 1%
E - 1%
F - 3%
G - 45%
If in the above case, shareholder G having 45% holding sales the shares to Z. Can A Ltd carry forward its business losses. if not please give justification.
A - 10%
B - 10%
C - 30%
D - 1%
E - 1%
F - 3%
G - 45%
If in the above case, shareholder G having 45% holding sales the shares to Z. Can A Ltd carry forward its business losses. if not please give justification.
Aditya Maheshwari
(Expert)
10 September 2010
as per section 79 if more than 50% of the shareholding changes losses cannot be carried forward. But in the given case it is less than 50% and hence no problem.
yogesh vijaykumar shah
(Querist)
10 September 2010
can A Ltd carry forward the business losses ?
Aditya Maheshwari
(Expert)
10 September 2010
Yes it can.
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