Dear Friends,
There is 2 Private Companies, "X" Private Limited & "Y" Private Limited, During the F.Y 2010-11 Comapny "X" is merged with Company "Y". Further there is a change in the shareholding Pattern in both the companies by more than 51% during the Year 2010-11 before the scheme approved . Whether the Losses of Company "X" incurred Prior to the Financial Year 2010-11 are alowed to acrried forward in the Hands of " Y" Limited.
Thanking You
S.Baranidharan
Yes loss can be carried forward in the hand of Y ltd.
YEs can C/F losses sub to certain conditions........
Query- A Private Limited Company has incurred loss due to regular administrative expenses though it has no business or income from any source during the financial year 2010-11. Accordingly the company is not entitled to carry forward the loss.
When I am going to fill up the return, it is carried forward automatically and loss is not ignored. How can I show it in the return that carry forward loss becomes nil?
CCI
Pro
CAclubindia
