Loss of a closely held company cannot be carried and set off unless on the last day of the previous year in which the loss was incurred and as on the last day of the previous year in which such loss is set off, at least:

Loss of a closely held company cannot be carried and set off unless on the last day of the previous year in which the loss was incurred and as on the last day of the previous year in which such loss is set off, at least:
A . 51% of shares are beneficially held by the same persons
B . 50% of the shares are beneficially held by the same persons
C . 49% of the shares are beneficially held by the same persons
D . 60% of the shares are beneficially held by the same persons

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Answer: A