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Accounting

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(Querist)
04 January 2021 Dear sir/madam
How to pass entry for a loss in previous year to current f. y. year in a partnership firm
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
07 January 2021 Loss to be transfered partners capital A/s or Current a/ c as per deed
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sagar

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sagar (Querist)
08 January 2021 Dear sir
How to settle previous year loss in current financial year as i want to take benifit from income tax
And what are the entry
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 October 2021 The net loss of the firm gets carried forward upto next 8 years, so whenever there is profit you can claim the loss to be adjusted. You need to file ITR before due date.
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