Hello,
There is this partnership firm which during the current F.Y. has no purchase or sales and has only incurred expenses viz. salary, electricity, telephone etc. now since there is no business income or any other receipts, can the net loss at the end of the year be C/F to next F.Y.
Thanks. In Advance.
It is beyond my understasnding that without any business how the P'ship firm can afford to pay salaries and all other exps., please clarify that first
| Originally posted by : Saurabh | ||
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It is beyond my understasnding that without any business how the P'ship firm can afford to pay salaries and all other exps., please clarify that first |
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through transfers received from partners and opening bank balance.
for what purpose salaries have been paid, pls explain?????
to retain the staff.
Did your company really struggled for carrying out any business if you can prove that "yes" the co has struggled, then the exps. loss can be c/f as business loss,
Otherwise NO.....
N N V Satish & Co.,
Hyderabad
CA Inter
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M N Rao & Associates LLP
Vijayawada
CA Inter
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CCI
Pro
CAclubindia
