44ad in loss and no turnover

Save Share

This query is : Resolved

Akshay Deep (Querist)
Follow

03 June 2015 Dear sir,

Please let me know the treatment of 44AD if i have loss from Expenses and Purchase but no turnover as i have started my business from year end whether 44AD is applicable or required Tax Audit as i have less than 8% of Turnover i.e Loss is less than Zero

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 June 2015 if there is no turnover, no audit will apply. But if you wish to carry forward loss then return needs to be filed.

Rupesh Jain

Rupesh Jain (Expert)
Follow

04 June 2015 you can file itr and carryforward the loss

Akshay Deep

Akshay Deep (Querist)
Follow

07 June 2015 Thanx for the Reply, I will Make books of Accounts and File ITR 4 and Carry forward the Loss, Am i Right or is there any problem in this. Please reply.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

07 June 2015 you are bang on........

Akshay Deep

Akshay Deep (Querist)
Follow

07 June 2015 thank you for a great help

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

07 June 2015 you are welcome Akshay...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now