.jpg)
Calcutta: Corporate resolution of financially stressed companies under Insolvency and Bankruptcy Code, 2016 received a leg up in the Union budget after the Centre allowed multiple tax relief to iron out some of the glitches from the process.
The government allowed bidders to suck the benefit of unabsorbed depreciation or huge losses when they take over sick companies. Resolution professionals said the tax relief would aid companies to bid more aggressively for stressed assets and that in turn would help banks and financial institutions realising more money in the process.
The finance bill effected amendments, applicable from April 1, in the Income Tax Ac…
Read the full article at: https://www.telegraphindia.com/business/ray-of-hope-for-insolvents-205468