As per Law if a proprietor have more than one firm and one firm is audited then the other one is also implied audited. So the query is how to file 2 form 3CD's under a common proprietor. Kindly reply...
08 August 2013
"Implied audited" means ???? . -to comply the law the other firm is also required to be get audited. . There is no need to file 2 form 3CDs. .
The details are required about the assessee's business(es). Merge the details in corresponding heads of P&L and Balance Sheet and adhering to the format fill up the details. Prepare a combined report- earmarking the firm's name - where ever required while furnishing the item-wise particulars . .
08 August 2013
Running different business firms in one's name means all are required to be merged because proprietor's return is filed in his own name and no different returns are filed for different business firms which he runs. . . Now I raise one query to you to grasp the concept : . If a company has 10 different branches/business entities then how many audit reports is it required to file with the Income-Tax return? .
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