Will IT accept returns of proprietorship, when ...?
This query is : Resolved
Kapil Khanna
(Querist)
07 July 2011
Will IT accept returns of proprietorship biz. when company is not registered nor has current account?
The company has cash collection only for which savings a/c of proprietor will suffice.
Proof of doing business will be Franchisee agreement, receipts, bills etc.
Please advise.
The company has cash collection only for which savings a/c of proprietor will suffice.
Proof of doing business will be Franchisee agreement, receipts, bills etc.
Please advise.
CA PARAS BAFNA
(Expert)
07 July 2011
IT accepts every income which yields tax to it.
Filing of return will result into tax receipt so IT will gratefully accept the return.
You have to carefully check for cash purchases >20000 and loan transactions if there be any.
Filing of return will result into tax receipt so IT will gratefully accept the return.
You have to carefully check for cash purchases >20000 and loan transactions if there be any.
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
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- GST on reimbursement of expenses
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
