My client is running a partnership firm and it has loss from past 4 years , Every year we are setting off the loss a bit as its making profits now,
Now still we have some loss left out to be set off in the firm, Now the Firm is converting as Proprietorship Two partners are getting split and in future two business will run as proprietorship ,
How should i carry forward the loss of firm in future ?
Should i take the loss in Ratio of profit or what ?
CAclubindia
