Nature of business

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2016 Dear Experts.,

How to select 'Nature of Business' in ITR...?

If A Assesee have business Trading or Manufacturing with Labour Contract works under A Firm name. Which Category of Business Nature...?
Ex: XYZ and Co doing Trading & Contract Works...
Ex: ABC Pipes doing Manufacturing, Trading and Contract works...

Please reply

Thanks in Advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 December 2016 Choose ' other sector', code 1001, since no other choice for composite nature of business.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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25 December 2016 You can choose multiple option if you are doing different business in nature of. Business option.

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Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2016 Dear Experts., (Mr. ADDANGADI & Chackarapani).,
Thank you for the Reply...

But.,
I have not clearing this one. I have more confusing this 'Nature of Business' in ITR...!!??
Because, the ITR FORM asked 'Nature of Business, Code and Trade Name'.

My Question.,
XYZ Co., doing Trading & Contract Works. If how to Choose 'Nature of Business, Code and Trade Name...
I think and I Choose the following way.,
1. 202/203/204 - Trading Others, Trade Name of 'XYZ Co'
2. 505 - Contact Others, Trade Name of 'XYZ Co'
This is correct or Not...?
Please reply SIRs

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2016 Dear Experts.,

Please Reply SIR...

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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26 December 2016 Yes, correct trade name you can specify your business name or trade name.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2016 So,
we can use One Trade name in Two nature of business for everybody if available...
Am I right Sir.,