Loss of subsidiary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2015
provision made by parent company for loss of subsidiary,is it allowable to parent company under income tax??
CA PARAS BAFNA
(Expert)
02 May 2015
The parent company and the subsidiary companies are treated distinct persons in the Income Tax Act. So the reply is No.
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