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Proprietorship

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(Querist)
30 September 2013 can a person be proprietor in two firms?????
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
30 September 2013 Yes. You could be running two different businesses with different trade names. However for tax purposes, revenues would be clubbed.
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Ankur Agrawal

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Ankur Agrawal (Expert)
30 September 2013 I agree with Mr. Nikhil.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
21 October 2013 Yes he can be proprietor of any number of firms but if the total turnover of all the firms taken to-gather exceeds the minimum turnover required for tax audit is over then you have to get all the firms audited by a CA
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
21 October 2013 Yes the Proprietor can run two business but the Total Turnover would be conisdered for the purpose of calculating the Turnover. Agreed with the reply of the above experts
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 November 2013 Yes aggregate revenue needs to be considered.
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