If show witout expenses
This query is : Resolved
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
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.
.
.
Claim of reasonable expenses is generally allowed. DO not hesitate in claiming the reasonable expenses.
.
Message likes :
1 times
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.....
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.....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Multiple payment of self assessment tax for A Y 2025-2026
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- ITC BENEFIT ON BROKRAGE PAID
- Short Term Gain Reporting ITR
- Query regarding reporting of exempt foreign remuneration in ITR
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Error in uploading Form 10BD
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
