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Sole propritership

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 April 2011 I m doing my water treatment plant manufacturing business as a sole propritership. Now i need to start IT consulting business with the same propritership and with the same company name? Is it possible to do? If yes then what is tax procedure and accounting effect?
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CA KRISHNA KUMAR DARUKA

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CA KRISHNA KUMAR DARUKA (Expert)
11 April 2011 You can start new business in the same firm. No other formalities required except may be amendment in trade license etc. No separate accounts to be maintained and only one return will be filed.
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