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.
CA PARAS BAFNA
(Expert)
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?
CA PARAS BAFNA
(Expert)
13 August 2013
Section 44AD can not be opted when the turnover is more than Rs 1.00 crore. Tax-audit is Compulsory.
.
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.
.
.
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.
.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
