Updated Online video classes available for CA,CS,CMA for May20 and Nov20 batch. Call: 1800-3000-0505

IT DOUBT - reg

Maya (Student)     18 August 2019

 10 likes  388 points

| My Other Post

Dear frds / experts,

An individual proprietor is running a MSME manufacturing industry.... Actually it was started during the F.Y.2018-19. Since it is a newly started industry, there is no profit.... obviously it contains only LOSS. At the same time, he is also a managing director of a small company, who is earning director salary. Now my question is,

1) whether we have to file a seperate IT RETURN for that MSME industry? Else we can file that loss income along with that individual IT return who is already earning director salary?

2) If so, which ITR should be selected?

3) whether the loss of MSME adjusted in the director salary?

4) Does this case require CA's signature?

Earliest reply would be greatly appreciated...

Thanks in adv / Maya.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Popular Discussion

view more »