cash expenses in crore

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Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2014 DEAR SIR,

MY CLIENT PURCHASE BUILDING MATERIAL FROM LOCAL TRUCK OWNER AND SALE AGAIN.BUT HE PAID TO LOCAL TRUCK OWNER IN CASH (UNDER 20000) AND GET PAYMENT FROM DEBITORS IN BANK ,
BUT IN GROSS YEAR THE AMT (PAID TO LOCAL TRUCK OWNER )GO VERY HIGH IN CRORE

IS THIS HIGH EXPENSES IS SAVE UNDER IT AUDIT OR NOT

PLEASE SUGGEST ME A SAVE IDEA IN ABOVE SAID SITUATION

Amol S Joglekar

Amol S Joglekar (Expert)
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06 November 2014 Thisis quite COMMON in construction industry. Mining, Qyarrying, infrastructure...lot of such examples. Dont have to get scared.

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2014 DEAR SIRN

BUT GIVE ME A VERY SAVE IDEA FOR MAINTAIN ACCOUNT BOOK AND DOCUMENTS FOR THIS EXPENSES FOR AVOID DISALLOWANCE THIS EXPENSES

Amol S Joglekar

Amol S Joglekar (Expert)
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06 November 2014 why are you scared? If the expenses are genuine, nobody can disallow it. The question always comes is amount involved in it as material and amount of transport charges.

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