same proprietoryship firm in two states.
This query is : Resolved
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
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
24 January 2011
No restriction in appointing single CA firm for audit of both the firm.
Vaibhav Sharma
(Expert)
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.
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
- Tax on Amount transferred in HUF Account
- Nursery business
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- GST input credit on commercial property
- Gift to nri relatives residing in usa
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
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
