Brahma Finance (PROPRIETOR) (79 Points)
25 February 2012Fellow boarders,
Sooner I am going to take a franchisee of a reputed stock broker. I am confused as to how to start -- as a proprietorship or as an individual. How will my income tax liability be calculated and which ITR to be filed( in both the cases).
Plz help Urgent reply will be highly appreciated
Thanks in advance
Chitra Alagappan
(BCOM., CA Final)
(464 Points)
Replied 25 February 2012
Proprietorship or Individual both are same. In both status you have to file in ITR 4 for business Income.
CA D R P
(Chartered Accountant)
(313 Points)
Replied 25 February 2012
agree with chitra. so, any option you select, your income will be taxed as per "tax slabs."
CAclubindia
