Reply to query u/s 44ad if firm is loss
This query is : Resolved
09 August 2013
Sir,
With due respect I want to ask the learned CA Mr. Paras Bafna in respect to his valuable reply to Query u/s 44 AD, when firm is in loss.
Sir U have mentioned that the firm can not claim the loss unless & until the accounts have not been audited u/s 44AB.
Kindly enlighten me the section and provisions relating to it.
We shall be highly thankful to U.
With due respect I want to ask the learned CA Mr. Paras Bafna in respect to his valuable reply to Query u/s 44 AD, when firm is in loss.
Sir U have mentioned that the firm can not claim the loss unless & until the accounts have not been audited u/s 44AB.
Kindly enlighten me the section and provisions relating to it.
We shall be highly thankful to U.
09 August 2013
If turnover is less than or equal to Rs.1 crore no need of audit under section 44AB read along with section 44AD(5)IN CASE OF PARTNERSHIP FIRM HAVING LOSS
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