TAX AUDIT FOR 2 FIRMS SAME PAN

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SELF EMPLYOED
211 Points Posted on 28 December 2020
Whether 2 Audit reports are required for 2 business run by same proprietar..
(Both are under the preview of tax audits)
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On 28 December 2020 at 14:18 Report
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If you operate two businesses under the same PAN (Personal Account Number), you generally only need one consolidated tax audit report. Instead of preparing two separate reports, you should combine the financial statements of both businesses into a single report. This consolidated report should then clearly mention details pertaining to both businesses.

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Tax consultant
5895 Points Posted on 28 December 2020

No one audit report for two business under one person with same pan 

You need to consolidate both financial statement of his or her business and make one financial statement report  

In audit report you have to mention about both business 

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On 28 December 2020 at 15:04
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manager
38 Points Posted on 29 December 2020

If it is registered under the same pan card you do not need 2 reports

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On 29 December 2020 at 16:59

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