Hey Everyone,
Can anyone let me know k whether a single person can run two proprietary concerns, wherein both the concerns are not related. Its like one firms goods are taxed at 5% and whereas the other firms goods are taxed at 1%... Is a single person allowed to run two different proprietary concerns and taxed seperately.
Thanks & Regards,
Archana Pitti
(archanapitti775 @ gmail,com)
in a single firm also you can avail two slabs, and there is no bar to run more than one proprietorship firm, but at the end both are consolidated for all tax Exemption purpose, except the profession tax, where tax is charged on identity basis.
can u please elanborate it or give reference to any section of the act....???
| Originally posted by : shyam | ||
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can u please elanborate it or give reference to any section of the act....??? |  |
you have posted the query in ïncometax forum, where the tax is grossed up per PAN basis, and an individual have a singal PAN, so it would be clubbed, for other taxes, post in relevent forum / section
CAclubindia
