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Tax

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(Querist)
08 July 2011 Q-1 Is it possile for an individual to became proprietor in two different firm at the same time? If yes, then please tell me about the ceiling? if no, then why?

Q-2 I want to see my tax credit(26As). Is new registration on incometaxindiaefiling.gov.in site is free or on paid basis?
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U S Sharma

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U S Sharma (Expert)
08 July 2011 1) yes, he can be prop of more than one firm, gross amount added with all such firms would be taxable.

2. incometaxindia.gov in is free site
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CA. Krishna K Neeraj

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CA. Krishna K Neeraj (Expert)
08 July 2011 1) Yes a person can be proprietor in more than one firm however for the purpose of tax audit receipts from all the firms will be clubbed together.

2) it is free site
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Jyoti

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Jyoti (Querist)
08 July 2011 Thanks for guidance.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
08 July 2011 Yest I agree with Mr. Krishana.
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