Hi all Plz resolve my doubt … If one assessee (individual) is having two different business than how the details of balance sheet and profit & loss of both the business should be filled up in itr-4. -ashish lohiya
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assessee having two business
Replies (4)
It will have to be combined and shown
Every person carrying on the business or profession has to prepare a consolidated balance sheet and profit and loss account. This is a legal requirement under income tax act.
Regards
both will be combined and the net effect is shown in the balance sheet
Yes consolidated and seperate balance sheet and p&l a/c should be prepared for both business. and consolidated should be filled up in itr forms.
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