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Taxation of wholly owned subsidiary of a indian pvt ltd comp

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(Querist)
28 April 2016 Dear Members,

I want to know that if a pvt ltd wants to incorporate its wholly owned subsidiary, then what will be treatment of preliminary Expenses? can business loss of WOS can be ksett from income of Holding Company.
Thanking you
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Sandeep Garg

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Sandeep Garg (Expert)
28 April 2016 taxation is based on the concept of legal entity. so holding Co. can not take benefit of loss of wis. Further, preliminary expenses will be charged to p&l in same year while for tax purpose it is allowed in 5 years. thanks
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