ranjitkarmakar (service) (306 Points)
09 September 2010A individual as a proprietor, how many business/firm/enterprises can run at a time, is there any restriction in income tax law or Vat rules & regulation, Please help me - Ranjit
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 09 September 2010
There is no restrication
Shan Antony
(Industrial Trainee)
(243 Points)
Replied 09 September 2010
Ansari
(ca final)
(444 Points)
Replied 09 September 2010
| Originally posted by : Shan Antony | ||
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There is no restriction on no of businesses. Incomes from different business should be shown seperately under profits and gains from business. |
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CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 10 September 2010
Ya. all my friends views are correct. there is no limit in the Income tax act,1961
yashsaxena
(Managing Director)
(71 Points)
Replied 13 September 2010
As such, yes, there is no limit . . .
If you want, you can find more information on income tax in India.
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