Audit Compulsory
This query is : Resolved
30 December 2021
Dear Sir,
I've a partnership firm which only deals in trading in F&O,Stocks, Mutual Fund. and say by year end I have profit in it but very less amount say 1 lac.
But my expense are also there like internet bill, travelling etc which exceeds more than 1 lac say its 1.50lac.
Can I file ITR without audit showing loss if my trading turnover is less than 5 cr?
I've a partnership firm which only deals in trading in F&O,Stocks, Mutual Fund. and say by year end I have profit in it but very less amount say 1 lac.
But my expense are also there like internet bill, travelling etc which exceeds more than 1 lac say its 1.50lac.
Can I file ITR without audit showing loss if my trading turnover is less than 5 cr?
30 December 2021
Yes, provided sec. 44AD(4) not attracted earlier.....
30 December 2021
not attracted earlier.....
Sir DID not get this point
In last FY also I had shown loss will it not be possible to show loss this year also without audit
Sir DID not get this point
In last FY also I had shown loss will it not be possible to show loss this year also without audit
30 December 2021
Yes, you can file ITR5 without tax audit, & carry forward losses.
Message likes :
1 times
30 December 2021
thanks very much sir
Message likes :
1 times
30 December 2021
Most Welcome ...
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Form 121 & TDS deduction
- Inter corporate deposits
- Regarding appeal to GSTAT
- Invoice V/S Goods receipt Note Date
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Multiple trade mark
- Transporter Declaration form
- Capital gains on sale of agricultural land and house constructed on the land
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
