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itr 4 - PROPRIETOR HAVING MORE THAN ONE BUSINESSES AUDITED BY DIFFERENT CAS
A PERSON IS CARRYING ON THREE BUSINESSES, EACH IN PROPRIETORSHIP STYLE AND EACH IS AUTDITED BY A DIFFERENT CHARTERED ACCOUNTANT. NOW , THE QUESTION IS HOW THAT PERSON WILL FILE HIS RETURN AND PROVIDE FOR THE DETAILS REGARDING ALL BUSINESSES IN A SINGLE FORM? IF THE ACCOUNTS ARE REQUIRED TO BE CONSOLIDATED THEN PLEASE SPECIFY WHO WILL CONSOLIDATE THE ACCOUNTS AND ALSO , IS THERE A REQUIREMENT TO GET CONSOLIDATED ACCOUNTS AUDITED, KEEPING IN MIND THAT THE ACCOUNTS OF ALL BUSINESSES ARE ALREADY AUDITED? PLEASE CLARIFY.
Replies (9)
Yes
Yes Sumit you can do that, i have posted some ITR Forms on the portal Please have a look at that too
Mr Gul , please clarify .
The ITR form from department have space for only one Balance Sheet and Profit and Loss Account . If some one has multiple balance sheets and P.L. , therse are to be consolidated and then filled in ITR form . Further there is space for one auditor only ??? Is this right??
Yes the B/S and P/L needs to be consolidated and filled in the ITR 4
THanks
does the auditor need to sign ITR4?
If yes, then there is complex situation since 3 diff CAs have signed.
logically all CA's who have signed the tax audit reports forming part of the return of income should sign on the ITR form
| Originally posted by :sumit | ||
| " | A PERSON IS CARRYING ON THREE BUSINESSES, EACH IN PROPRIETORSHIP STYLE AND EACH IS AUTDITED BY A DIFFERENT CHARTERED ACCOUNTANT. NOW , THE QUESTION IS HOW THAT PERSON WILL FILE HIS RETURN AND PROVIDE FOR THE DETAILS REGARDING ALL BUSINESSES IN A SINGLE FORM? IF THE ACCOUNTS ARE REQUIRED TO BE CONSOLIDATED THEN PLEASE SPECIFY WHO WILL CONSOLIDATE THE ACCOUNTS AND ALSO , IS THERE A REQUIREMENT TO GET CONSOLIDATED ACCOUNTS AUDITED, KEEPING IN MIND THAT THE ACCOUNTS OF ALL BUSINESSES ARE ALREADY AUDITED? PLEASE CLARIFY. | " |
i am realy feeling odd to answering it but let me clear m nt a proffesional, i m a pcc student
answer-any tax audit is being done for a an individual not for a propriotory firm
as like a pan is issued to a person not a firm,
* Message withdrawn *
Sorry
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