No accounts case lossess

This query is : Resolved 

Quick Summary
In situations where formal accounts aren't maintained, you can declare losses as long as you have kept relevant books of accounts. However, speculative losses cannot be declared in such cases. If you do maintain books, you will still need to provide details of business assets and liabilities.

25 June 2023 In no accounts case whether we can declare lossess with books of accounts maintained??

25 June 2023 Losses can be declared with books of accounts maintained, not otherwise.

25 June 2023 Than Bs and P&L are need to be filled??

25 June 2023 Yes, at least relevant to business assets & liabilities.

25 June 2023 Whether speculative losses can declared in no accounts case of balance sheet by entering the details in books of accounts???

25 June 2023 Not possible.

26 June 2023 Ok thanks sir for your precious advise

26 June 2023 You are welcome.


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