https://www.taxtmi.com/acts?id=49117 Restrictions limit the carry forward and set off of losses where taxpayer composition changes: firms cannot carry forward loss portions attributable to retired or deceased partners (reduced by profit share); successors other than by inheritance cannot inherit carry forward rights; and closely held companies cannot set off carried losses after shareholding change unless majority beneficial ownership continuity or specified start up continuity conditions are met, with enumerated exceptions for death, gifts to relatives, certain amalgamations/demergers, insolvency or tribunal approved restructurings, relocation, and strategic disinvestment. en-us Fri, 14 Feb 2025 16:56:29 +0530 Thu, 20 Feb 2025 12:29:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49117 Restrictions limit the carry forward and set off of losses where taxpayer composition changes: firms cannot carry forward loss portions attributable to retired or deceased partners (reduced by profit share); successors other than by inheritance cannot inherit carry forward rights; and closely held companies cannot set off carried losses after shareholding change unless majority beneficial ownership continuity or specified start up continuity conditions are met, with enumerated exceptions for death, gifts to relatives, certain amalgamations/demergers, insolvency or tribunal approved restructurings, relocation, and strategic disinvestment. Act-Rules Bills Fri, 14 Feb 2025 16:56:29 +0530 https://www.taxtmi.com/acts?id=49117