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Business

VIKASH KUMAR JAIN (Audit Executive) (711 Points)

27 April 2014

Friends, I want to open my own proprietorship firm to start small trading business of school bags and toys.I have not yet filed any of my personal income tax return as not exceeded basic exemption limit, but had made my personal PAN card 5 years ago.Please tell me in detail, How to proceed further to start my trading business??Thanks in advance.

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Harendra Kumar (Tax Advisor ) (1326 Points)
Replied 28 April 2014

Sir,

Make the compuation reagrding your income when you start the earn as per extimated year by year as a capital and same is introduce the new business. Investment is show how to arrange i.e self or loan or gifted whatever. Hope you make the possible. And requested to you that check the which earned income or invest by you in your business. Clearify the all queries otherwise facing you problems through Income tax Department or various departments whic is applicable in thsi regard. If you having other observation in this regard plz forward the same.