Dear CCI Members,
In our private company, we have brought forward business lossess of Rs. 8,01,749 and brought forward Long Term Capital Losses of Rs. 1,69,776 as on date. One shareholder holding 23.80% shares has passed away few months back. The husband of deceased shareholder has come up with a transimission request. I would like to know is there any restriction in Income Tax Act, for carry forward of losses to future years after change in beneficial ownership?
Please reply immediately.
Regards,
Arjun Rajagopal
CAclubindia
