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
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Experts need help
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Gift Received from nonblood relative
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
