TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2021 amends Section 79, allowing loss carry forward despite shareholding changes due to relocation. Effective April 2022.</h1> Clause 23 of the Finance Bill, 2021, amends section 79 of the Income-tax Act concerning the carry forward and set off of losses for certain companies. It introduces a new clause in sub-section (2) that exempts changes in shareholding due to relocation, as specified in the Explanation to clauses (viiac) and (viiad) of section 47, from the restrictions on carrying forward losses. This amendment, effective from April 1, 2022, applies to the assessment year 2022-2023 and subsequent years, allowing companies to maintain loss carry forward benefits despite shareholding changes due to relocation.
TaxTMI 
TaxTMI 
