07 October 2022
I am carrying a partnership business and previous year i had suffer a loss. I am not subject to tax audit and fail to furnish return on july 31. In this case i have informed that, the los can't be carry forwarded to following years. One of the expert suggest me to conduct audit under 44AB(E) and thereby it is possible to carry over loss to subsequent years. Is it possible
07 October 2022
In case of loss 44AB(e) not applicable. File condonation application under section 119(2)(b) with CIT giving some valid reason for the delay in filing ITR
07 October 2022
In my case , it is a partnership firm, so i think that now it is compulsory for tax audit for the purpose of declaring loss. otherwise i have to offer profit of 8 %. Is in't it?
CAclubindia
