Taxability of Partnership firm for FY 2025-26

Save Share

This query is : Resolved

Mahabir Prasad Agarwal (Querist)
Follow

31 August 2026 A partnership firm is having turnover of 50.00 lac during FY 2025-26. If the account is audited by a CA and there is taxable loss after providing remuneration to partners. Is there any problem to carry forward the loss ?

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)
Follow

31 August 2026 The partnership firm can carry forward the loss to subsequent assessment years without any issue, provided:

The partners' remuneration is validly authorized by the Partnership Deed and stays within the limit of Section 40(b).

The Income Tax Return (ITR-5) for FY 2025-26 is filed on or before October 31, 2026 (the due date under Section 139(1)).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now