The proposed amendment seeks to limit the set-off of business loss consequent to amalgamation of a company.  Currently, all the accumulated business loss of amalgamating company or companies, except for speculative business, can be set-off or carried forward against business profits of amalgamated company.  Now, by the proposed amendment, the bill seeks to only allow, to an amalgamated company, assessed loss for a tax year, other than brought forward and capital loss, of the amalgamating company or companies in the year of amalgamation. Where such loss would not be set-off in the year of amalgamation, it may be carried forward and set-off within succeeding six years.