2 business of proprietor

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YashPorwal (Querist)
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30 August 2016 Can we consolidate the balance sheet of two business in 3CD? Only one concern t/o exceeds One crore . Provide valuable suggestions regarding the same

ACA Anurag

ACA Anurag (Expert)
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30 August 2016 Dear Yash, If the proprietor is same then u can club the business as one but if limit get increased u would be liable to tax audit and also your tax amount would be increased. So in my view keep as separate business and file the return Indivally. Hope your query is resolved Kindly like if my response has helped you

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 August 2016 All business of proprietor has to be consolidated and reported in form 3CD. Tax audit applicable if consolidated turnover exceeds limit.
Mr Anurag only one return can be filed for proprietor, even if he has umpteen number of business.

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ACA Anurag

ACA Anurag (Expert)
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30 August 2016 Dear Seetharaman, Agreed my mistake as i forget that point. thanks for making me remember. Dear Yash, U have to consolidate the entire business.

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