19 September 2013
if i Declare Presumptive Profit 6000000*8% = 480000. than i can deduct salary and interest on capital.(salary 200000+ interest 280000) now 0
but how to do accounting of these in accounts.
because there is loss of Rs. 500000 in actual books without providing interest and salary
22 September 2013
Gaurav, if u want to carry forward loss, you need to maintain proper accounts, get the tax audit done and claim proper loss in the books and tax returns. Under 44ad, loss doesnt come into picture.
CAclubindia
