Merger of 2 Private company
This query is : Resolved
16 January 2010
Are two private company cover in defination of merger as per Income Tax ie can two private company merge.If yes, What will be implications on carry forward losses.
16 January 2010
Yes two private company are covered in defination of merger as per Income Tax.
Carry forward losses will be allowed to be carried forward for further 7 years from the year of merger
Carry forward losses will be allowed to be carried forward for further 7 years from the year of merger
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