Furnishing of form 3ca and 3cd in case of companies?

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Andria Abraham (Querist)
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30 September 2013 In case of a company whose turnover is below 1crore and incur a loss for the AY 2013-14, should Form 3CA and 3CD be furnished?

Ashwani Narnoli

Ashwani Narnoli (Expert)
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30 September 2013 Since the turnover is below Rs. 1 crore, the assessee can opt for Sec 44AD where he can show his income at 8% of turnover. If he wants to show his income less than 8% then he has to get his accounts audited u/s 44AB and furnish report in Form 3CA and 3CD. In your case sinc there is a loss, then you should furnish the report in Form 3 CA and 3CD

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 September 2013 No need to furnish form 3CA and 3CD. Please note that section 44AD is not applicable to companies.

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Ravi Shankar

Ravi Shankar (Expert)
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30 September 2013 44AD is not applicable in this case. The LOSS RETURN must already have been filed before the DUE DATE in order to be eligible to carry forward the loss for set off in future years.