individual having 2 firms ????
This query is : Resolved
10 September 2010
hello sir,
one person individual having 2 firms
1) one firm covered under Tax Audit
2) another firm having loss
2nd firm having no transaction in previous year but current year incurred loss..
so 1st firm i received tax audit report and balance sheet..
but from 2nd firm i received p&l and Balance sheet.. so how can show in ITR-4?????????
one person individual having 2 firms
1) one firm covered under Tax Audit
2) another firm having loss
2nd firm having no transaction in previous year but current year incurred loss..
so 1st firm i received tax audit report and balance sheet..
but from 2nd firm i received p&l and Balance sheet.. so how can show in ITR-4?????????
10 September 2010
Questin is not clear.
Whether such person is partner in these firm or it is the case of propritorship.
Whether such person is partner in these firm or it is the case of propritorship.
10 September 2010
talking about ITR 4, it seems both are prop firms. if both are prop. concern of one individual, audit report for both firms is needed and in ITR 4 consolidated figures of both the firms shall be provided alonghwith any other income (income other than prop firms). in case of partnership firms form ITR 5 is required to be filed and if both are partnership firms, separate return for each firm shall be filed.
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