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Audit u/s 44ad

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 October 2014 Can an audit u/s 44ad be done to carry forward losses of business if we missed 31st july to file the return?
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CA VISHWAKEERTHI.P.S.

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CA VISHWAKEERTHI.P.S. (Expert)
18 October 2014 Loss return not covered under the 44AD cases as defined under income tax act.

Even though it not covered under 44AB too.

So according to me 44AB is preferred. Conduct the tax audit and file the loss return and carry the loss .
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 October 2014 turnover is 9 lacs i.e. less than 1 crore
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CA VISHWAKEERTHI.P.S.

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CA VISHWAKEERTHI.P.S. (Expert)
19 October 2014 Ok conduct tax audit u/s 44AB . And ascertain loss and file the return along with 3CB/3CA and 3CD . Then you can carry the loss .

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