Taxplanning

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2016 X CO AND Y CO are in merger. X co is a loss making co with b/f loss of RS 20lakh and b/f dep of rs 50lakh.
Y CO is making profit to the extent rs 30lakh p.a
if u r a tax consulatnt from tax planning what is your opinion on following case
a)The scheme of merger
b)TAX benefit arising from merger in the present case???

pls help me urgently i need this ans

Amol S Joglekar

Amol S Joglekar (Expert)
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02 June 2016 from tax angle : the brought forward losses will be available for set off for the resultant company after merger

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