Income tax returns for two business

This query is : Resolved

CA. Afjal Y Hamirani (Querist)
Follow

03 November 2011 hello sir/madam,

can i file income tax returns for a person which have two business during the finacial year?

for example : if person have two business like auto brokers ( include in service other) and garage business ( which also include in service other).so for the same person can i file itr-4 for business & profession.

and please give procedure for same for the filling of returns.

thank you.

U S Sharma

U S Sharma (Expert)
Follow

03 November 2011 add values for both or all business and file in ITR4

Message likes : 1 times

CA. Afjal Y Hamirani

CA. Afjal Y Hamirani (Querist)
Follow

03 November 2011 TO,
U S Sharma,

sir i don't understand properly what you are says..please give in detail for procedure .

thank you sir..

Upgrade to CAclubindia Pro. Subscribe Now!

U S Sharma

U S Sharma (Expert)
Follow

03 November 2011 if the profit and loss of both the business is made separately, then add both and file in ITR4

if consolidated then file ITR4

Message likes : 1 times

CA. Afjal Y Hamirani

CA. Afjal Y Hamirani (Querist)
Follow

03 November 2011 TO,

U S Sharma,

no sir there are two b/s and p&l a/c for two separate business.

thank you sir..

CA. Afjal Y Hamirani

CA. Afjal Y Hamirani (Querist)
Follow

03 November 2011 TO,

U S Sharma,

can i mention in nature of business that i have two business like one is auto brokers (714-service other) and second is garage (714-service other)

thank you sir..

U S Sharma

U S Sharma (Expert)
Follow

03 November 2011 sure, you can mention both in return.

Message likes : 1 times