Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Home Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles News Highlights
Extracts
Home List
← Previous Next →

Substitution of new section for section 79.- Carry forward and set off of losses in case of certain companies.

Clause 32 - Bills - DIRECT TAXES - Income-tax - Bill - Clause 32 - Substitution of new section for section 79. 32. For section 79 of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 2018, namely:- .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e public are substantially interested and other than a company referred to in clause (b), no loss incurred in any year prior to the previous year shall be carried forward and set off against the income of the previous year, unless on the last day of .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n the last day of the year or years in which the loss was incurred; (b) in the case of a company, not being a company in which the public are substantially interested but being an eligible start-up as referred to in section 80-IAC, the loss incurred .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

was incurred,- (i) continue to hold those shares on the last day of such previous year; and (ii) such loss has been incurred during the period of seven years beginning from the year in which such company is incorporated: Provided that nothing contai .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

reholder making such gift: Provided further that nothing contained in this section shall apply to any change in the shareholding of an Indian company which is a subsidiary of a foreign company as a result of amalgamation or demerger of a foreign comp .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n 79 of the Income-tax Act relating to carry forward and set off of losses in the case of certain companies. It is proposed to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a compan .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

pany carrying not less than fifty-one per cent. of the voting power were beneficially held by persons who beneficially held shares of the company carrying not less than fifty-one per cent. of the voting power on the last day of the year or years in w .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

start-up as referred to in section 80-IAC, the loss incurred in any year prior to the previous year shall be carried forward and set off against the income of the previous year, if, all the shareholders of such company which held shares carrying voti .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Forum
what is new what is new
  ↓     bird's eye view     ↓  


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version