Loss of a closely held company cannot be carried and set off unless on the...

AAFM GLO_CWM_LVL_1 Question Answer

Loss of a closely held company cannot be carried and set off unless on the last day of the previous year in which the loss was incurred and as on the last day of the previous year in which such loss is set off, at least:

51% of shares are beneficially held by the same persons

50% of the shares are beneficially held by the same persons

49% of the shares are beneficially held by the same persons

60% of the shares are beneficially held by the same persons

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AAFM GLO_CWM_LVL_1 Summary

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Loss of a closely held company cannot be carried and set off unless on the...

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