Sections applicable
Querist : Anonymous
can you please tell me sections applicable in case of amalgamation of companies under The Income Tax Act.
Section 47(vi) 47(via) and 47(vii) - exemption from capital gains
Section 72A - for carry forward of unabsorbed depreciation and losses
Section 35(5) - for expenditure on scientific research
Section 35DD for amortization of amalgamation expenditure
Section 35AAB(6) - treatment of expense on licence in case of amalgamation
Section 36(1)(ix) - capital expenditure on family planning
Section 36(1)(vii) - treatment of bad debts in case of amalgamation
Please also refer to https://www.caclubindia.com/articles/taxation-aspect-of-mergers-and-amalgamation-9630.asp#.USNcLKPVWHc
Querist : Anonymous
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