Set off carried forward u/s 44ad
This query is : Resolved
17 September 2014
My Client, a Partnership firm is eligible to claim set off carried forward loss for 8 years from the Asst Year 2011-12 onwards. Now for the Asst year 2014-15 the firm's business is covered by sec 44AD and Return of Income is yet to be filed. Can the Firm claim for the Asst Year 2014-15 since the due date is 31st July 2014 or can we file ROI u/s 44AB grater than 8% of Income.
Nikhil Kaushik
(Expert)
17 September 2014
if losses are there, then file under 44Ad(5) with tax audit with due date for return being 30 sept (atleast currently).
why declare excess profit?
why declare excess profit?
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