IT Return

This query is : Resolved

CS SIDDHARTHA BANIK (Querist)
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11 July 2009 Dear All,

Mr. X is a salaried employee. He is also the proprietor of ‘PPP POLYMERS’(a manufacturing unit registered under DVAT).

Now can Mr. X file separate return as followes:-
1.One for his salary income;
2.Another in the name of ‘PPP POLYMERS’ in respect of the manufacturing unit’s income.

Thanks,
CS Siddhartha Banik

Rajesh

Rajesh (Expert)
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11 July 2009 Not your should bave to file one return for both Salary + Business

In above case ITR (Individual) is based on Pan NO. not on Name of Person or proprietor.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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11 July 2009 If you have 10 source of income it does not mean that you will file separate return for each source.

X can file only one income tax return however it does not matter that he has income from salary, house property, business income (one business or more), captal gain or other sources.

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