Loan relief on acquiring interest in companies
06/05/1990
Query
Whether relief is allowed where a holding company is also a trading company (subsections 5 (e) & (f) )
Decision
Relief is allowed
Income Tax
Section 250, Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:10407/5224/88
13/09/1990
Query
Can employees of a subsidiary company claim relief on loans acquired to buy shares in the holding co.
Decision
Employees of a co., which is a 100% subsidiary of a second co., which in turn is a subsidiary of a third co., can claim relief
Income Tax
Section 250, Taxes Consolidation Act, 1997
Origin: Direct Taxes International and Administration
File ref:10407/5699/90