Loss return of firm

449 views 3 replies

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.

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

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details