application of tax audit
This query is : Resolved
20 September 2008
a broker has assumed that his turnover might exceed Rs.40 lakhs in the previous year. but in actual his turnover is below Rs.40lakhs.he actually suffers losses during the p.year.
so he did not file return on 31st july,2008 because he assumed that the date of return filing in his case is 30th september.
can he file the return on 30th september & carry forward his losses.
so he did not file return on 31st july,2008 because he assumed that the date of return filing in his case is 30th september.
can he file the return on 30th september & carry forward his losses.
20 September 2008
No chance of getting the loss carried forward.t is not the income, but the turnover whicg is the criterion for tax audit. The assessee would definitely know his turnover at all times.
20 September 2008
He will loose the c/fd benefit since he has not filed the return on or before 31st july 2008.
21 September 2008
Sorry for ur client but no excuse
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Legal heir raised refund , but refund issued to the closed account of deceased.
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- Doubt in Form AOC 4
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
