Filing of itr in case of amalgamation - urgent

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Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2011 Two Companies got amalgamated and.the Court's order was received in August 2011 with amalgamation taking effect from April 2010. How to claim Depreciation and Loss under income tax act of the amalgamating co. in ITR form. Any Specific Requirement before claimimg the same ! Please Guide.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 November 2011 The total depreciation for the whole year will be computed as per the normal provisions.

Thereafter, the depreciation will be distributed between the amalgamating company and the amalgamated company in proportion to the number of days for which each of them has used the asset.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2011 Dear Sir,

Any specific filing/procedures to be followed to claim the loss?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 November 2011 Normal return needs to be filed.

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