Relief to start-ups in carrying forward and setting off of losses

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..... anies in which the public is substantially interested. It prohibits setting off of carried forward losses if there is change in shareholding. The carried forward loss is set off only if at least 51% shareholding (as on the last date of the previous year) remains same with the company on the last date of the previous year to which the loss belongs. 2. However, some relaxation has been provided i .....

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..... for relaxation is proposed to be increased from seven years to ten years from the date of incorporation. 4. It is therefore proposed to amend the proviso to sub-section (1) of section 79 of the Act so that the carried forward loss of eligible start-ups shall be considered for set off under this proviso, if such loss has been incurred during the period of ten years beginning from the year in whi .....

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