Proprietorship
This query is : Resolved
prakash kumar singh
(Querist)
30 September 2013
can a person be proprietor in two firms?????
Nikhil Kaushik
(Expert)
30 September 2013
Yes. You could be running two different businesses with different trade names. However for tax purposes, revenues would be clubbed.
Ankur Agrawal
(Expert)
30 September 2013
I agree with Mr. Nikhil.
21 October 2013
Yes he can be proprietor of any number of firms but if the total turnover of all the firms taken to-gather exceeds the minimum turnover required for tax audit is over then you have to get all the firms audited by a CA
CA.Vinita Gupta
(Expert)
21 October 2013
Yes the Proprietor can run two business but the Total Turnover would be conisdered for the purpose of calculating the Turnover. Agreed with the reply of the above experts
26 November 2013
Yes aggregate revenue needs to be considered.
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