07-09-2011, 09:03 PM
I think i need to make my question very specific & clear as below.
Suppose a group has five companies with holding company named XYZ. If duing this year XYZ applies to form a group before SECP then i believe the annual tax return for the year ended June 30, 2012 will be filed on consolidated financial statements basis of Five Companies.
Now the question is if Group declares tax loss during the year then for how many years it can be carried forwarded for adjustment against future taxable profit?
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Suppose a group has five companies with holding company named XYZ. If duing this year XYZ applies to form a group before SECP then i believe the annual tax return for the year ended June 30, 2012 will be filed on consolidated financial statements basis of Five Companies.
Now the question is if Group declares tax loss during the year then for how many years it can be carried forwarded for adjustment against future taxable profit?
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