Income Tax Assessment

This query is : Resolved

Rabindran (Querist)
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29 August 2008 A direct marketing agent (Amway) got his commission (below 10 Lakhs) after deduction of TDS. He has not saved many bills although he has incurred considerable business expense.
Is there any percentage of Net Profit he must show so that he can get a reasonable refund without being hauled up for scriutiny

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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27 October 2008 As you got only commission, and do not have proofs for expenses incurred for getting that, you can not claim the expenses...
There is no way provided as such to calculate percentage of Net Profit...

**DM

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