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.
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30 December 2021
thanks very much sir
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30 December 2021
Most Welcome ...
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