Business Loss in ITR 3 in no account case
This query is : Resolved
27 June 2024
Sir,
Pl guide me on how to show business loss in ITR 3 in no account case.
I have entered in No account case in ITR 3 bit business loss is not getting accepted in it. Is there any other way. Please guide.
Regards,
CA Manish Agarwal
Pl guide me on how to show business loss in ITR 3 in no account case.
I have entered in No account case in ITR 3 bit business loss is not getting accepted in it. Is there any other way. Please guide.
Regards,
CA Manish Agarwal
27 June 2024
Logic is how can one arrive at loss without any books?
Neither it is allowed to be adjusted against any other income not gets carry forwarded without Books maintained.
Under "NAC' One can declare Rs. 1 as profit, but not loss!!
Neither it is allowed to be adjusted against any other income not gets carry forwarded without Books maintained.
Under "NAC' One can declare Rs. 1 as profit, but not loss!!
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29 August 2024
Good Luck.
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