Whether is it mandatory for partnership firm to file income tax return even if it has made loss and does not want to carry forward the same as there is no possibility of earning profit next year also and the business is shut down next year?(before AY 2008.
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Loss return of firm
Replies (3)
From A.Y 2006-07 it mandatory for partnership firm to file income tax return even if it has made loss or profit.
Regards
Puneet Mittal
yes it is mandatory and next year apply section 176, then it won't be mandatory. But be careful to apply section 176.
thanks
https://taxbykk.blogspot.com/
if that partnership firm is not covered u/s 44AB then it is not mandatory to file loss return of the firm
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