same proprietoryship firm in two states.

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pradeep (Querist)
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24 January 2011 Sir,
I have two proprietorpryship firm namely "ABC" in Delhi and in same name "ABC" in Utter Pradesh under same Proprietor, both firms exceed turnover limit Rs.60 lacs, I want to make separete Balance Sheets as well as separete Profit & Loss A/c and wants to get Audited by same CA. Is it possible as per Income Tax & VAt Departments.
Thanks in Advance

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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24 January 2011 No restriction in appointing single CA firm for audit of both the firm.

Vaibhav Sharma

Vaibhav Sharma (Expert)
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24 January 2011 You can make spread balance sheets of both prop. firms, but as per income tax concern you need to club both balance sheets & p &l a/c, and paid income tax total income

Guest

Guest (Expert)

24 January 2011 You can have two B/sheets but in the return of income figures will taken consolidated only.

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