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No books of accounts

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(Querist)
11 February 2014 dear sir
a commission agent income of RS 190000 but he has no books of accounts. hence how can show expenses? is IT DEPT consider expenses
if show 30% to 40% exp? please advice me
thanks.......
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
11 February 2014 If he does not maintain books of account he may be made liable for paying penalty for non maintenance of books of account.
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However, if you can produce the details of expenses and required documentary evidences
there may not be a penalty.
.
You may take some risk and file the return.
.
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