Filing a loss return of pvt ltd

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Lakshmi Sonaimuthu (Querist)
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23 April 2010 Dear all,

Anyone could help me to give the pros and cons of filing a loss return of a pvt ltd concern in the point of Bankers and Share holders.

CA Shiv

CA Shiv (Expert)
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23 April 2010 Bankers and shareholders are also known as stakeholders who are interested to know your financial stability. Most probable both are not interest to see the tax filed by your company.. All is to modificate the balancesheet and P&L for them to impress them. May be you can prepare forecast and present to them...

Lakshmi Sonaimuthu

Lakshmi Sonaimuthu (Querist)
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23 April 2010 Dear Mr. Shivang,

thanks for the reply. For the last 4 years we were running with profits. We enjoy fund based and non-fund based facilities with bank. But this year we are ending up in loss. How far this would affect us??

CA Shiv

CA Shiv (Expert)
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23 April 2010 Since in last 4 years you were in profit and the last year you can determine it as an abnormal year as there was recession and if its loss than also it wont make tht difference. Just check the profit and sales trend of last 4 years.