Comment on Notice under Section 139(9)? - Possible reason
commented on
16 Jul 2014, 05:03 PM
No you cannot carry forward losses with ITR 4S. With ITR 4S, you can file with presumptive income, so if you have turnover of 10lks and you have made a loss, you show your income as 80k (8%) and hence not require an audit from a CA. If you are using ITR 4, you can show the loss and carry forward, but needs an audit.