I have a basic question.
Can someone who already files ITR on behalf of his firm (he being the owner) can file another ITR on his name?Suppose , I own a business for which I already pay tax.I now want to start another kind of online business.Can i show this income elsewhere as I want to keep the two businesses seperate?
Kindly reply.
| Originally posted by : Vinay | ||
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I have a basic question. Can someone who already files ITR on behalf of his firm (he being the owner) can file another ITR on his name?Suppose , I own a business for which I already pay tax.I now want to start another kind of online business.Can i show this income elsewhere as I want to keep the two businesses seperate? Kindly reply. |
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Hi Vinay.
If one has created his proprietorship firm then he must have have filed IT Return in his name quoting his PAN. Now, for another business, he can't show income in his name as a separate business income. Income from all the business which are carried by one person shall be added and taxed.
Dear Vinay, Vinita is right...
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