Section 115BAB (Lower rate of Income Tax @ 15%)
This query is : Resolved
09 July 2020
Dear Expert,
We have formed a company ABC Ltd post in Dec-2019.
We have another company xyz Ltd formed in 2015.
In XYZ Ltd we had taken a land to set up factory and imported some machines from Germany but business is yet commenced.
Now we wish to merge xyz Ltd into ABC Ltd in order to get lower income tax benefit u/s 115BAB.
Please suggest your view.
Thanks & Regards,
M K Agarwal
We have formed a company ABC Ltd post in Dec-2019.
We have another company xyz Ltd formed in 2015.
In XYZ Ltd we had taken a land to set up factory and imported some machines from Germany but business is yet commenced.
Now we wish to merge xyz Ltd into ABC Ltd in order to get lower income tax benefit u/s 115BAB.
Please suggest your view.
Thanks & Regards,
M K Agarwal
11 July 2020
Can anyone respond please.
19 December 2021
Not eligible. Start up should be totally new.
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