Sameer Limited and Sunanya Limited wished to amalgamate together and form SamSun Limited. They amalgamated on April 6 2019.
Samsun Limited incurred 100,000 in this process of amalgamation.
How much deduction can Samsun Limited claim under section 35DD in assessment year 2020-21?
Apr. 05, 2020
Samsun can claim Rs 20,000 viz 1/5 of the total amalgamation expense in the assessment year 2020-21.
Samsun can claim these deductions of Rs20000 in each of next 4 years ie it can claim Rs 20000 deduction for assessment years 2020-21, 2021-22, 2022-23, 2023-24, 2024-25.