FIRM IN LOSS
This query is : Resolved
30 July 2009
A PARTNERSHIP FIRM HAS SALE WORTH RS : 10
LAC AND NO G.P. HAS BEEN SHOWN IN TRADING A/C. LOSS OF RS : 5000 REFLECT IN P & L.
NO INTT AND SALARY PAID TO PARTNERS.
WILL DECLAIR OF 5% NET PROFIT MUST ?
SUGGEST ANY IDEA
LAC AND NO G.P. HAS BEEN SHOWN IN TRADING A/C. LOSS OF RS : 5000 REFLECT IN P & L.
NO INTT AND SALARY PAID TO PARTNERS.
WILL DECLAIR OF 5% NET PROFIT MUST ?
SUGGEST ANY IDEA
31 July 2009
Dear Munish
Declaration of 5% is not a must. Just file the return in time so that the firm can carry forward its losses
Declaration of 5% is not a must. Just file the return in time so that the firm can carry forward its losses
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