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of <h1>Income-tax Act Section 35D Amendment: No Deduction for Demerged Company; Resulting Company Faces Same Provisions</h1> Section 35D of the Income-tax Act is amended to include sub-section (5A), effective from April 1, 2000. This sub-section addresses the transfer of an Indian company's undertaking, entitled to deductions under sub-section (1), to another company in a demerger. It specifies that no deduction will be allowed for the demerged company in the year of the demerger. Additionally, the resulting company will be subject to the provisions of this section as if the demerger had not occurred.
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