TaxTMI 
TaxTMI 
Provisions relating to carry forward & set off of accumulated losses and unabsorbed depreciation in case of Amalgamation or Demerger etc. - [ Section 72A(1), (2) and (3) ]
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....lation Act, 1949 with a specified bank; or * Requirement of transfer of control referred to in sub-clause (b) of section 72A(1) may be carried out by the Central Government or the State Government or the public sector company or any two of them or all of them. * (c) one or more public sector company or companies with one or more public sector company or companies; or * (d) an erstwhile public sector company with one or more company or companies, if the share purchase agreement entered into under strategic disinvestment restricted immediate amalgamation of the said public sector company and the amalgamation is carried out within five year from the end of the previous year in which the restriction on amalgamation in the share purchase a....
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....r more years; (ii) has held continuously as on the date of the amalgamation at least 3/4 of the book value of fixed assets held by it two years prior to the date of amalgamation; * (b) the amalgamated company- (i) holds continuously for a minimum period of five years from the date of amalgamation at least 3/4 of the book value of fixed assets of the amalgamating company acquired in a scheme of amalgamation; (ii) continues the business of the amalgamating company for a minimum period of five years from the date of amalgamation; (iii) fulfils such other conditions as may be prescribed (under rule 9C) to ensure the revival of the business of the amalgamating company or to ensure that the amalgamation is for genuine business purpose.&....
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....ears from the date of amalgamation. In other words, Due date of Filling Form 62 If due date of submission of return of income is * 31 October than Form 62 filling due date is 31 October * 30 November then Form 62 filling due date is 30 November Chargeable for tax if condition laid down in section 72A(2) not complied * The set off of loss or allowance of depreciation made in any previous year in the hands of the amalgamated company shall be deemed to be the income of the amalgamated company chargeable to tax for the year in which such conditions are not complied with. [ Section 72A(3) ] Meaning for the purpose of section 72A(1) * (i) "control" shall have the same meaning as assigned to in section....