Prepare of finical reports single or consolidated


This query is : Resolved 

Quick Summary
When preparing financial statements for a business with multiple single proprietorships, you should prepare them separately for each entity. However, when it comes time to file your Income Tax Return (ITR), these individual statements will need to be consolidated into a single report.

25 April 2024 Sir,
It assessess maintained three business single proprietor
Question:
Assessess preparation finical statements balance sheet and profit and loss each one seperately or consolidated.

25 April 2024 consolidated....

26 May 2024 Prepare statements separately, but while filing ITR you need to consolidate them.


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