CLUB INCOME

Dear All,

 

         My client has a proprietorship firm with the name 'A" at one place, but after some time he  opens a new firm with the same name 'A" but a different GSTIN No. & the location is around 20 kms. away from the first one. My question is that when the timing of Income Tax Return comes, shall we club incomes of both firms & filled returns or should we file Income Tax return Separately ??   

 

Replies (5)
Quick Summary
This discussion clarifies whether income from two proprietorship firms with the same name but different GSTINs and locations should be clubbed for Income Tax Returns. The consensus is that if the proprietor is the same, income from both firms must be clubbed and filed under a single Income Tax Return, even if the income is shown separately in the computation.

since name of the establishment is same and within a state, the income can be clubbed and shown in single income tax returns. 

THANK YOU SIR....... .........

If the proprietor is same, single return shall be filed showing income of both the firms together.

But can it fill 2 returns if he wishes ?? 

No. One PAN, One ITR. He can show it in computation separately but ITR will be one only.

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