https://www.taxtmi.com/notifications?id=125704 When a foreign company becomes resident in India because its Place of Effective Management is in India and was not earlier resident, specified transitional rules apply: opening WDV and year-wise brought forward losses and unabsorbed depreciation are adopted from foreign tax records if assessed abroad or from books of account if not; such losses and depreciation are deemed brought forward and may be set off or carried forward only against income chargeable in India due to residency, with revisions allowed if foreign authorities change those figures. en-us Fri, 22 Jun 2018 00:00:00 +0530 Tue, 06 May 2025 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125704 When a foreign company becomes resident in India because its Place of Effective Management is in India and was not earlier resident, specified transitional rules apply: opening WDV and year-wise brought forward losses and unabsorbed depreciation are adopted from foreign tax records if assessed abroad or from books of account if not; such losses and depreciation are deemed brought forward and may be set off or carried forward only against income chargeable in India due to residency, with revisions allowed if foreign authorities change those figures. Notifications Income Tax Fri, 22 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125704