22 January 2013
dear sir an assessee has commission income of Rs400000 if it show as gross receipt= 400000, grossprofit= 400000 and also net profit=400000 witout show expenses.his tds deduted is Rs 40000 and he have to pay tax of Rs 24000+cess. sir is any way to save his tax burden, this is happen because he has no any books of account or expenses record but this is a huge tax burden, any practical advise please send me sir. MY E-MAIL ADDRESS malaydas5275@gmail.com. My most of the cases in same way
26 January 2013
In earning commission income , first ask the party , what type of expenses he is incurring for earning the income. You have to be practical and analyse that how much reasonable amount of expenses can be shown , so that the client may not face any trouble at the time of assessment. . Claim of reasonable expenses is generally allowed. DO not hesitate in claiming the reasonable expenses. .
27 January 2013
dear respected bafna sir tanks for replies butI alredy upload return in no account case gross commission show as net profit and show paid as taxes thereon is any trouble? I remember your advice next time sir. but now give me advice shoot out from this trouble.and please provide me some reasonable expenses which I claim as expenses, if posible thanks.....