Sole proprietorship more than one ?
This query is : Resolved
11 June 2014
Mr. X is a Proprietor of a Business "A"
now he want to start another business "B" along with a can he be the proprietor in business "B" as well.
As he is already a Prop. in Business "A"
Mr. X is a Proprietor of a Business "A"
now he want to start another business "B" along with a can he be the proprietor in business "B" as well.
As he is already a Prop. in Business "A"
CMA Ramesh Krishnan
(Expert)
11 June 2014
yes. he can be proprietor of Business B as well., there is no restriction on the proprietorship cap
Nikhil Kaushik
(Expert)
11 June 2014
just to add on. the income from both the businesses are to be included in a single tax return. sections like 44AA, 44AB shall apply on the basis of cumulative turnover of the assessee including all the businesses run by him under his proprietorship.
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Import of Software Service.
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- GST on Renting godown to KFCSC for Storage of Raagi
- Under marginal scheme
- Oct 2025 Invoices
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
