Filling of return for loss making proprietorship firm.
This query is : Resolved
24 June 2015
I opened last year a prop firm which is not having profit/income and having a nominal loss. Whether the Income tax return is to be filled, if to be filled please advise the ITR No. considering the fact that I am having pension income and interest income of less than Rs.3,00,000/-( I am a senior citizen )
24 June 2015
ideally you should file the return to carry forward the losses
24 June 2015
you can file ITR-4 for on or before due date of return u/s 139, then you can carry forward the loss for set off against future income.
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