02 September 2012
If any person has a proprietorship firm, which is audited firm and turnover exceed 60 lakh,,than in that case firm audit report has to be submitted in the deptt.Now my query is, in such a case whethet proprietor has to file his personal itr or not? if yes, than which itr form no.?
02 September 2012
if the concern is proprietorship firm, then no need to file the personal return by proprietor. the proprietorship concern's return is nothing but its own return :)
02 September 2012
IN THIS CASE HE HAS TO FILE HIS PERSONAL RETURN, AS IN CASE OF PROPRIETORSHIP, BUSINESS HAS NO INDIVIDUAL IDENTITY & PAN NO IS ALSO IN THE NAME OF THE INDIVIDUAL (NOT IN THE NAME OF THE FIRM). ITR 4 IS THE RIGHT FORM FOR THIS.
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