CAN SOMEONE EXPLAIN ME THE DIFFERENCE BETWEEN AS 18 AND SEC 40 a (2)(b) OF INCOME TAX
PLEASE GUIDE ME ON THE FOLLOWING ISSUE:
A PROPRIETORSHIP FIRM OR A PARTNERSHIP FIRM NOT HAVING TURNOVER ABOVE 1CRORE BUT IN CURRENT YEARS P/L ACCOUNT SHOWS LOSS OF RS. 4 LAKHS .
BOTH FIRMS WERE COVERED UNDER AUDIT IN ACCOUNTING YEAR 2011-12.
WHETHER AUDIT OF THE ACCOUNTS OF CURRENT YEAR IS COMPULSORY FOR THEM OR NOT.
SIR
PLEASE LET ME KNOW CAN IT IS POSSIBLE THAT CAPITAL GOES NEGATIVE IN PRO.SHIP FIRM AND IF YES THAN HOW IT COULD BE POSITIVE WHEN F.Y PERIOD IS ALREADY GONE.
THANKS & RGDS
MUKESH KUMAR
Heloo,
What are the requirement for uploading the itr 6 for A.Y 13-14. Is there we have to submit 3CD and 3CB Copy in any form with itr... ???
I find it very difficult please tell me how go overcome this difficulty.and also suggest some tips to prepare for this paper
dear all
kindly inform that can i file loss return without audit for AY 2012-13 with total turnover of Rs.49,85,250
loss is Rs.485221
depreciation is Rs.1389552
is it necessary to keep evidence of exp which is less than Rs. 100.00?
Wether there is any scope of attachment with 10B report of balance sheet & income & expenditure a/c?
Client's business is of commission agent,
its turnover(direct income)is 1429507Rs,
its net profit is 54054Rs.
Whethere Tax Audit attracted? If yes, then under which section 44AD or 44AB??
Reply soon..
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As 18 and sec 40 a (2)(b)