RAJ KUMAR (FINANCE MANAGER) (1393 Points)
09 July 2011HELLO FRIENDS, MY CLIENT RUNS AN IELTS COACHING INSTITUTE AND HE ALSO DOES THE TRADING BUSINESS.
HE ALSO DOES THE BUSINESS AND ALSO HAS A PROFESSION NOW PLS. TELL ME HOW TO FILL HIS RETURN.
CAN I MAKE CONSOLIDATED BALANCE SHEET OF BOTH AND THEN FILE THE RETURN.
IS IT OK.
IN PROFESSION HE FOLLOWS CASH BASIS OF ACCOUNTS.
AND IN BUSINESS HE FOLLOWS MERCHANTILE BASIS OF ACCOUNTS.
PLS. HELP ME.
CA Anand
(CEO)
(48 Points)
Replied 09 July 2011
You have to Consolidate Balance Sheet and file Return
RAJ KUMAR
(FINANCE MANAGER)
(1393 Points)
Replied 09 July 2011
CAN A PERSON DOES THE BUSINESS AND PROFESSION BOTH?
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 09 July 2011
WHY NOT SIR ? Proffession is being backed by special knowledge acquired while bussiness can be carried by any one .
CAclubindia
