Mithun Banerjee (Accountant) (54 Points)
25 February 2011Hi,
I have a clint who involved in three different bussines like Retail dealer, Property dealing (both are Proprietorship)& also geting salary from partnership firm (he is one partner of that firm), can I file ITR 4 for him? should I prepare indivdual P/L & B/s for each Bussiness & suggest me how to prepare with example.
Thanks
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 25 February 2011
prepare P/L, Balance sheet for all business, and club all in tax computation
ITR should be filed
Devendra
(Chartered Accountant)
(4775 Points)
Replied 25 February 2011
PREPARE A CONSOLIDATED P&L AND B/S OF THE TWO PROPRITORY BUSINESSES FOR FILING THE RETURN. AND FILE ITR-4.
REGARDS,
DEVENDRA
Dheeraj
(Learner)
(1100 Points)
Replied 26 February 2011
only one pl and bs should be prepared (consolidated) and only one ITR-IV should be filed. and also remember the diffrence between income earned from busines and income taxable u/h PGBP.
Nitin Grover
(CS)
(1228 Points)
Replied 26 February 2011
Dear Friend
Prepare P & L A/c and B.Sheet sepretarly for each unit
Consolidate it for ITR Purpose
ya you have to File ITR 4
Regards
CAclubindia
