Audit of cheteswar pujara (cricketer)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 Hie everyone we got Audit of a Cricketer.
I wanted to do what points should take into consideration in AUDIT of Cricketer?
Please do reply soon.
I have never Did audit of any sports player.
Regards,

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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18 September 2012 He is a Professional.
Income Will be assessed as Under Business & professionals.
Tax Audit Applicable if Receipts Exceeds 15 Lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 thanks but i need to know how to do the audit sir

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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18 September 2012 Do Audit as You do for Business & professionals.

There is nothing Different in That Case.

Service Tax is Applicable.

Amol S Joglekar

Amol S Joglekar (Expert)
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18 September 2012 In case Cricketeer, most of the expenses are not supported by vouchers. You need to take the declaration from the assessee. You need to build the reliable books of accounts as might be acceptable to Income Tax department at the time of scrutiny if any. That is very tricky situation. Even these players do not take the bills/ vouchers for pads, bats, t shirts and so on. Be in touch for any further need at amolshankar@gmail.com. I have the case of one of the IPL players. (Name is not disclosed deliberately)

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2012 THANKS EVERYONE FOR THE REPLY.

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