Proprietorship
This query is : Resolved
30 September 2013
can a person be proprietor in two firms?????
30 September 2013
Yes. You could be running two different businesses with different trade names. However for tax purposes, revenues would be clubbed.
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
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.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- GST Rate for Catering Services
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- EXPORT COMMERCIAL INVOICE HSN CODE
- ITR 4 and Bank transactions
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
