IT Return
This query is : Resolved
CS SIDDHARTHA BANIK
(Querist)
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
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
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.
In above case ITR (Individual) is based on Pan NO. not on Name of Person or proprietor.
CA Tilak Raj Sharma
(Expert)
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.
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.
Manmohan ACA, CS
(Expert)
11 July 2009
agree with Tilak
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