https://www.taxtmi.com/acts?id=49115 Clause 117 deems the accumulated loss and unabsorbed depreciation of specified amalgamating entities (certain banking companies, corresponding new banks, and Government insurance companies) to be the loss and depreciation of the successor entity for the tax year the amalgamation scheme is brought into force, with the Act's set-off and carry forward rules applying thereafter; where the scheme is brought into force on or after the clause's commencement date, deemed predecessor losses may be carried forward by the successor only for a prescribed limited period of subsequent tax years. en-us Fri, 14 Feb 2025 16:55:53 +0530 Fri, 14 Feb 2025 16:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49115 Clause 117 deems the accumulated loss and unabsorbed depreciation of specified amalgamating entities (certain banking companies, corresponding new banks, and Government insurance companies) to be the loss and depreciation of the successor entity for the tax year the amalgamation scheme is brought into force, with the Act's set-off and carry forward rules applying thereafter; where the scheme is brought into force on or after the clause's commencement date, deemed predecessor losses may be carried forward by the successor only for a prescribed limited period of subsequent tax years. Act-Rules Bills Fri, 14 Feb 2025 16:55:53 +0530 https://www.taxtmi.com/acts?id=49115