Hi Experts
Please clarify the following
B. loss 280000
Other source income 290000
So Total income would be 10000
Q.1. Whether 44AB audit applicable?
Q.2. Can we file return the with loss adjustment after due date?
3 Replies
Nihit
(Accounts executive)
(29 Points)
Replied 07 July 2021
Not at all if the tax audit is not applicable you have to adjust the loss within due date and file accordingly
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 07 July 2021
Business loss cannot be adjusted against other income if return of income is not filed within the due date. No tax audit in case of individuals.
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