Income of stamp vendor
This query is : Resolved
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DEEPAK SETIA
(Querist)
01 September 2012
a stamp vendor has a sale of 66 lacs. his income is only 2% of sale. whether he has to audit or simply file a return without audit
01 September 2012
As per Kerala High court decision in Kerala Stamp Vendors Association Vs. AG ,
reported in (2006) 282 ITR 7 ,sale value may be considered as their turnover
since they get 'discount' and not 'commission', meaning thereby ,in the given
case, tax audit applies.
reported in (2006) 282 ITR 7 ,sale value may be considered as their turnover
since they get 'discount' and not 'commission', meaning thereby ,in the given
case, tax audit applies.
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gbalakrishnan
(Expert)
01 September 2012
right view of warrier
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DEEPAK SETIA
(Querist)
02 September 2012
Thanks Sir,
Deepak
Deepak
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