tax audit for partnership firm in loss
This query is : Resolved
20 June 2017
Dear experts,
we have formed a partnership firm on August 2016. The firm is in prototype development stage so there is no revenue generated.
I want to carry forward the losses from FY 2016-17.
my query is,to carry forward the losses is it necessary to do tax audit
20 June 2017
As income is less than8% you are rquired to get tax audit
13 October 2021
For partnership there is no exemption limit. It means loss is below exemption limit; hence no tax audit in case of loss ...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
