https://www.taxtmi.com/manuals?id=4172 Section 79 restricts carry forward and set off of losses after a change in shareholding in closely held companies unless at the relevant year end persons beneficially hold at least fifty one per cent of voting power who also held that proportion when the loss was incurred. The restriction applies only to losses and not to unabsorbed depreciation or specified research and family planning expenditures. Statutory exceptions include eligible start ups maintaining original shareholders, changes by death or gift to relatives, certain foreign parent restructurings, and changes pursuant to approved resolution plans, with additional relief for insolvency resolution and specified relocation and public sector company cases. en-us Mon, 25 Dec 2023 17:27:00 +0530 Thu, 11 Jan 2024 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4172 Section 79 restricts carry forward and set off of losses after a change in shareholding in closely held companies unless at the relevant year end persons beneficially hold at least fifty one per cent of voting power who also held that proportion when the loss was incurred. The restriction applies only to losses and not to unabsorbed depreciation or specified research and family planning expenditures. Statutory exceptions include eligible start ups maintaining original shareholders, changes by death or gift to relatives, certain foreign parent restructurings, and changes pursuant to approved resolution plans, with additional relief for insolvency resolution and specified relocation and public sector company cases. Manuals Income Tax Mon, 25 Dec 2023 17:27:00 +0530 https://www.taxtmi.com/manuals?id=4172