Nature of business

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2016 Dear Experts.,

How to select 'Nature of Business' in ITR...?

If A Assesee have business Trading or Manufacturing with Labour Contract works under A Firm name. Which Category of Business Nature...?
Ex: XYZ and Co doing Trading & Contract Works...
Ex: ABC Pipes doing Manufacturing, Trading and Contract works...

Please reply

Thanks in Advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

24 December 2016 Choose ' other sector', code 1001, since no other choice for composite nature of business.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

25 December 2016 You can choose multiple option if you are doing different business in nature of. Business option.

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2016 Dear Experts., (Mr. ADDANGADI & Chackarapani).,
Thank you for the Reply...

But.,
I have not clearing this one. I have more confusing this 'Nature of Business' in ITR...!!??
Because, the ITR FORM asked 'Nature of Business, Code and Trade Name'.

My Question.,
XYZ Co., doing Trading & Contract Works. If how to Choose 'Nature of Business, Code and Trade Name...
I think and I Choose the following way.,
1. 202/203/204 - Trading Others, Trade Name of 'XYZ Co'
2. 505 - Contact Others, Trade Name of 'XYZ Co'
This is correct or Not...?
Please reply SIRs

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2016 Dear Experts.,

Please Reply SIR...

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

26 December 2016 Yes, correct trade name you can specify your business name or trade name.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2016 So,
we can use One Trade name in Two nature of business for everybody if available...
Am I right Sir.,

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