Accountancy, asked by anshagrawal090, 7 months ago

Income tax refund of Rs. 500 of owner of sole proprietor deposited with bank account of business.​

Answers

Answered by hemishrashmiyya
0

Answer:

Sole proprietorship: Single-owner business that reports their income and expenses on the owner's individual tax return (Form 1040), using a Form Schedule C. ... These individual owners would receive a refund only if their total payments and withholding exceed their total tax liability on the return.

Explanation:

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