If an propreitor has two retail business, than the limit of 40 lacs (To maintain books of accounts and self declaration of 5% net profit) applies to each business or it applies to the Proprietor on a consolidated turnover of both the business.
Thanks in advance
club his income and make profit and loss account file the itr as per profit thereon.
If clubbing of turnover exceeds 40 lacs then?.
AJAY SINGH AND CO LLP
Thane
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CA Suraj Garg & Associates
New Delhi
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CCI
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CAclubindia
