Hello Friends,
Partnership Firm (Trading Business) started in October 2024.
Business Turnover - Rs.1.92 Crores
Business Loss - Rs.4 Lakhs
No Cash payments or Cash Receipts during the year 2024-25.
Is Tax Audit applicable or not. Can I carry forward loss amount?
Thanks in Advance...
Tax audit u/s. 44AB not applicable. Yes, loss can be forwarded if ITR filed before due date.
Thanks a Lot for your reply Dhirajlal Rambhia Sir...
You are welcome.
CAclubindia
