archana pitti (accountant and auditor) (111 Points)
04 October 2015Hey Everyone,
Can anyone let me know k whether a single person can run two proprietary concerns, wherein both the concerns are not related. Its like one firms goods are taxed at 5% and whereas the other firms goods are taxed at 1%... Is a single person allowed to run two different proprietary concerns and taxed seperately.
Thanks & Regards,
Archana Pitti
(archanapitti775 @ gmail,com)
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 05 October 2015
in a single firm also you can avail two slabs, and there is no bar to run more than one proprietorship firm, but at the end both are consolidated for all tax Exemption purpose, except the profession tax, where tax is charged on identity basis.
CA Raj Doshi
(Practising CA)
(8939 Points)
Replied 05 October 2015
shyam
(student)
(22 Points)
Replied 05 October 2015
can u please elanborate it or give reference to any section of the act....???
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 06 October 2015
| Originally posted by : shyam | ||
 |
can u please elanborate it or give reference to any section of the act....??? |  |
you have posted the query in ïncometax forum, where the tax is grossed up per PAN basis, and an individual have a singal PAN, so it would be clubbed, for other taxes, post in relevent forum / section
CAclubindia
