Business loss and unabsorbed depriciation

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Ritesh khurana (Querist)
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26 July 2012 Hello Experts

Do Digital signature required to file ITR of partnership firm having loss or nil income.

Thanks in advance

Akhilesh Chokhani

Akhilesh Chokhani (Querist)
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26 July 2012 After calculating MAT and IT we are paying tax as per MAT. In MAT calculation we have deducted lower of unabsorbed depreciation or business loss to the tune of Rs.50000 as per books.

Now i have a query that if we have used unabsorbed depreciation of book will it have any impact on Depreciation of IT act. i.e., the total unabsorbed depreciation will be allowed to carry forward or not? or whether the amount will be altered.

Suresh Mittal

Suresh Mittal (Expert)
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27 July 2012 Mr. Ritesh
In case of partnership firm's return, Digital Signatures are required only if the books are subject to audit u/s 44AB.So, it depends on turnover and not on profit/loss.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2023 "Sorry, I am not a featured member."

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