individual having 2 firms ????

This query is : Resolved

Vijay Parmar (Querist)
Follow

10 September 2010 hello sir,

one person individual having 2 firms

1) one firm covered under Tax Audit
2) another firm having loss

2nd firm having no transaction in previous year but current year incurred loss..

so 1st firm i received tax audit report and balance sheet..

but from 2nd firm i received p&l and Balance sheet.. so how can show in ITR-4?????????

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
Follow

10 September 2010 Questin is not clear.
Whether such person is partner in these firm or it is the case of propritorship.

mohinder kansal

mohinder kansal (Expert)
Follow

10 September 2010 talking about ITR 4, it seems both are prop firms. if both are prop. concern of one individual, audit report for both firms is needed and in ITR 4 consolidated figures of both the firms shall be provided alonghwith any other income (income other than prop firms). in case of partnership firms form ITR 5 is required to be filed and if both are partnership firms, separate return for each firm shall be filed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now