Certification of financial repoting period.
This query is : Open
30 September 2011
A proprietorship business is converted into partnership business in 1.10.2011.Assuming financial year 2011-12.
How an auditor should certify the financial reporting period in both cases, If in both situation same auditor is appointed ?
How an auditor should certify the financial reporting period in both cases, If in both situation same auditor is appointed ?
30 September 2011
Dear Abhishek,
One auditor can certify both the parties records. For proprietorship you have to file a different ITR and For partnership firm different ITR will be filed. Than the share of the partner(proprietor also earlier) in profits of Partnership firm who is will be added in his ITR, but no tax will be applicable on it as the Partnership firm already paid the tax on it.
One auditor can certify both the parties records. For proprietorship you have to file a different ITR and For partnership firm different ITR will be filed. Than the share of the partner(proprietor also earlier) in profits of Partnership firm who is will be added in his ITR, but no tax will be applicable on it as the Partnership firm already paid the tax on it.
10 December 2011
WHEATHER FINANCIAL REPORTING Date should be
1.4.2011 to 30.9.2011 or 1.4.2011 to 31.3.2012 for proprietorship business ?
1.4.2011 to 30.9.2011 or 1.4.2011 to 31.3.2012 for proprietorship business ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- REGARDING SECTION 44AE
- Lease agreement and tax on sale
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
