Income Tax return of a Partnership Firm

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

20 May 2011 Is Income Tax return filing mandatory of a partnership firm having loss income.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

20 May 2011 Yes it is mandatory and beneficial to the assessee.

It is better to claim losses of the firm by filing the return on or before the due date.
Otherwise loss will not be allowed to be c/fd.

Brought Forward losses will reduce the tax liability substantially in the profit making year.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now