Our Client a Firm always claim Income on presumptive basis under section 44AD. But this year being the last year of the Firm, the Firm has no contract. So there will be no profit under section 44AD. But the firm has incurred certain expenses like printing & Stationery, Bank OD interest etc. Can this expenses be claimed as losses for the current year. If not whether to write off this expenses to partner capital account.
Menu
Section 44AD
Replies (1)
Recent Topic
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
Related Topics
CAclubindia
