20 March 2019
I have to file the return of income of a firm which was audited under Section 44AB(Since income is less than 8%) during the financial year 2016-17. During the financial year 2017-18, the firm is having a turnover of Rs.20 lakhs and has incurred a net profit of Rs.20,000/- before charging interest and remuneration. After interest and remuneration, the net loss of the firm comes to Rs. 18,000/-. Whether I can file the return of income with out getting the books of accounts audited, as the income is loss. Please offer your comments
CAclubindia
