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>Carryforward of Losses Restricted After Shareholding Change; 51% Voting Power Rule and Start-up Exception Explained</h1> Where a closely held company experiences a change in shareholding during the previous year, losses incurred in earlier years cannot be carried forward and set off unless, on the last day of the previous year, persons holding at least 51% of voting power are the same who held 51% on the last day of the year(s) when the loss arose; eligible start-ups are allowed carry-forward if original shareholders continue to hold voting shares and the loss arose within ten years of incorporation. Specified exceptions include shareholder death or gift to relatives, certain foreign-company amalgamations/demergers, approved insolvency resolution plans, tribunal-ordered government nominations and related resolution plans, prescribed relocations, and specified strategic disinvestment conditions; subsidiary is defined by majority equity holding.
TaxTMI 
TaxTMI 
