B/f loss and addmission of new partner
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2012
IF LOSS MAKING PARTNERSHIP FIRM WANTS TO ADD partner ,for the revivasl of the business,at the time old partners shares are reduced to some extend, in such situation earlier loss which is brouught forward and c/f in the current year ,how can it set off?
how could picture will change & where its impact seen when a new partner is introduced in the loss making partnership firm?
how could picture will change & where its impact seen when a new partner is introduced in the loss making partnership firm?
11 June 2012
Thers should be no impact on the losses of the partership firm of the previous years, as all the partners of the firm when losses were suffered are still existing.
The Income-tax Act is silent on the lossess of the firm when there is a admission of the partner.
As per my knowledge, there should not be any impact on losses when a new partner is admitted.
The Income-tax Act is silent on the lossess of the firm when there is a admission of the partner.
As per my knowledge, there should not be any impact on losses when a new partner is admitted.
19 July 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- GST ON DAMAGED GOODS
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
