Business loss and unabsorbed depriciation
This query is : Resolved
26 July 2012
Hello Experts
Do Digital signature required to file ITR of partnership firm having loss or nil income.
Thanks in advance
Do Digital signature required to file ITR of partnership firm having loss or nil income.
Thanks in advance
26 July 2012
After calculating MAT and IT we are paying tax as per MAT. In MAT calculation we have deducted lower of unabsorbed depreciation or business loss to the tune of Rs.50000 as per books.
Now i have a query that if we have used unabsorbed depreciation of book will it have any impact on Depreciation of IT act. i.e., the total unabsorbed depreciation will be allowed to carry forward or not? or whether the amount will be altered.
Now i have a query that if we have used unabsorbed depreciation of book will it have any impact on Depreciation of IT act. i.e., the total unabsorbed depreciation will be allowed to carry forward or not? or whether the amount will be altered.
27 July 2012
Mr. Ritesh
In case of partnership firm's return, Digital Signatures are required only if the books are subject to audit u/s 44AB.So, it depends on turnover and not on profit/loss.
In case of partnership firm's return, Digital Signatures are required only if the books are subject to audit u/s 44AB.So, it depends on turnover and not on profit/loss.
25 July 2023
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