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>Amalgamation of banks under central schemes: successor inherits predecessor losses, eight-year carryforward limit for schemes from April 1, 2025</h1> Where specified amalgamations of banking entities, corresponding new banks, or government insurers occur under Central Government schemes, the accumulated business loss and unabsorbed depreciation of the predecessor entities are treated as the loss and depreciation of the successor for the year the amalgamation is brought into force, and normal carry-forward and set-off rules apply. For schemes brought into force on or after 1 April 2025, any such carried-forward loss of an original predecessor may be carried forward by the successor for at most eight assessment years following the year in which the loss was first computed. Definitions of terms are provided.
TaxTMI 
TaxTMI 
