individual having 2 firms ????

This query is : Resolved

Vijay Parmar (Querist)
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10 September 2010 hello sir,

one person individual having 2 firms

1) one firm covered under Tax Audit
2) another firm having loss

2nd firm having no transaction in previous year but current year incurred loss..

so 1st firm i received tax audit report and balance sheet..

but from 2nd firm i received p&l and Balance sheet.. so how can show in ITR-4?????????

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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10 September 2010 Questin is not clear.
Whether such person is partner in these firm or it is the case of propritorship.

mohinder kansal

mohinder kansal (Expert)
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10 September 2010 talking about ITR 4, it seems both are prop firms. if both are prop. concern of one individual, audit report for both firms is needed and in ITR 4 consolidated figures of both the firms shall be provided alonghwith any other income (income other than prop firms). in case of partnership firms form ITR 5 is required to be filed and if both are partnership firms, separate return for each firm shall be filed.

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