Can net loss be c/f to next f.y. if there is no business.

Bhavik (Accountant) (99 Points)

28 January 2013  

Hello,

There is this partnership firm which during the current F.Y. has no purchase or sales and has only incurred expenses viz. salary, electricity, telephone etc. now since there is no business income or any other receipts, can the net loss at the end of the year be C/F to next F.Y.

 

Thanks. In Advance.