Multiple business by sole proprietor? How to account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2010
A Sole Proprietor having different business...
1.Supplier of Plastic (With VAT numbers) with current account as XXX Enterprices.
2.Freelancer of websites
Now when accounting, is he required to maintain different books for each business? (Example different companies in Tally) or as he is a sole proprietor, just one in his name?
1.Supplier of Plastic (With VAT numbers) with current account as XXX Enterprices.
2.Freelancer of websites
Now when accounting, is he required to maintain different books for each business? (Example different companies in Tally) or as he is a sole proprietor, just one in his name?
23 July 2010
It doesnt matter to the LAw that how the books are kept in the Tally. However i will suggest to have diffrenet books for the two different businesses. I will also suggest to merge both books at the end of the yr & prepare a consolidated PL
26 July 2010
I second the opinion of Mr. Agarwal
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
