Maintance of books and records
This query is : Resolved
11 August 2013
what to do in case of non availability of invoice in both cases(purchase and sales)?
like in the business of fruit merchant, vegetable merchant.
like in the business of fruit merchant, vegetable merchant.
11 August 2013
Enjoy the fruits of non availability of bills.
.
Record the transactions on daily basis if serious accounting is desired.
.
Otherwise, Section 44AD is always there.
.
.
Record the transactions on daily basis if serious accounting is desired.
.
Otherwise, Section 44AD is always there.
.
13 August 2013
when turnover of firm more than 1 crore , can it adopt section 44ad?
13 August 2013
Section 44AD can not be opted when the turnover is more than Rs 1.00 crore. Tax-audit is Compulsory.
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In case of Fruit Merchant and vegetable merchant we have to consider the bank transactions taken place.
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An assessee has to run on a double edged sword in such a situation. If he show the turnover without any basis it becomes risky affair to handle.
.
.
In case of Fruit Merchant and vegetable merchant we have to consider the bank transactions taken place.
.
An assessee has to run on a double edged sword in such a situation. If he show the turnover without any basis it becomes risky affair to handle.
.
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