Tax Audit u/s. 44AB

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This discussion addresses a proprietorship firm that experienced a change in proprietor during the 2019-20 financial year. The original proprietor passed away, and their son took over the business. With two separate GSTR numbers and PANs (one for the deceased proprietor and one for the new proprietor), the question arose whether two Tax Audit Reports and two Income Tax Returns (ITRs) were necessary for that financial year. The consensus is that, yes, two separate reports and returns are required.

Abhishek Roy Choudhury

Abhishek Roy Choudhury (Querist)
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24 August 2020 Dear Sir,
A Proprietorship Firm filing Tax Audit Report i.e. 3CB, 3CD, and having GSTR No and files GSTR Returns. The matter is in the F.Y. 2019-20 i.e. in the month of August'2019 the Proprietor of the Firm has expired and later on the firm has been taken over by the son of the Proprietor who is now the Proprietor of the firm. The problem is there is one GSTR No in the name of the deceased Proprietor and now a new GSTR No in the name of the current Proprietor. So now whether it is required to file two Tax Audit Report and two ITR's in the F.Y. 2019-20 as there is two GSTR no's.

Thanks,
Abhishek.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 August 2020 Yes, it is required to file two Tax Audit Report(if applicable) and two ITR's in the F.Y. 2019-20 as there is two GSTR no's and two' PAN numbers.

Abhishek Roy Choudhury

Abhishek Roy Choudhury (Querist)
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25 August 2020 Dear Sir,
Thanks for your reply.

Thanks,
Abhishek

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