Reg. tax audit of individual

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2011 Dear Experts

Please guide me regarding "how to conduct the Tax Audit U/s 44AB of a Individual who is sole proprietor of a firm & also doing business in personal name"

Does require to prepare two(2) separate Audit Report or one(1) single Audit Report????

[Please note that turnover of both business exceeding60 Lacs individually)

Further please throw light on following points also if COMBINED REPORT is to make:

1. How to report in 3CD ??
2. How to report Annx.I ??
3. How to Fill financial figures in ITR??

Please also suggest what precaution require to be taken regarding the case under consideration.

Thanks very much in advance for the valuable suggestion and time.

Thanks & Regards

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 September 2011 If both the concerns are proprietorship under the same proprietor, only one 3CB and two 3CD's are required provided the auditor of both the concern is one and the same.
In ITR combined figures may be furnished.

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2011 Sir

How to report in 3CD when the nature and activity of both the business is different.

Please also mention following:
1. How to prepare B/S & P&L A/c
[Does require to prepare separately??]

2. How to report Annx.I of 3CD??