Suppose I have Normal business profit of 1 cr
& F&O loss is 1 cr ...how to show both businesses and will it affect ratios?
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Tax filing for multiple business
Replies (4)
You can declare income under two categories,
Income from business 1
Income from business 2
If this is not available in your software then you can prepare one excel & declare the business profit as zero if set of is allowed
Income from business 1
Income from business 2
If this is not available in your software then you can prepare one excel & declare the business profit as zero if set of is allowed
Where to report that excel?
You can prepare it for your future reference
You can only file your personal and business taxes separately if your company it is a corporation, according to the IRS. A corporation is a business that's seen as an entity separate from its owner(s) that pays its own tax. Corporations file their taxes using Form 1120.
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