Section 119(3)(b) in The Income Tax Act, 2025

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Union of India - Subsection

Section 119(3)(b) in The Income Tax Act, 2025

(b)regardless of the change in percentage of shareholding, where the company is an eligible start up referred to in section 140, the loss incurred in any year prior to the tax year shall be allowed to be carried forward and set off against the income of the tax year, if—

(i)all the shareholders of such company who held shares carrying voting power on the last day of the year or years in which the loss was incurred, continue to hold those shares on the last day of such tax year; and

(ii)such loss has been incurred during the period of ten years beginning from the year in which such company is incorporated.

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Union of India - Subsection

Section 119(3)(b) in The Income Tax Act, 2025