25 July 2012
MY CLIENTS DONT HAVE ASSETS IN THEIR NAME NOR THEY MAINTAINED THEIR RECORDS....I WISH TO FILE THIER ITR AS "IF BOOKS OF A/C NOT MAINTAINED" & GIVING ONLY G.R./EXP/N.P.
Will A.O. WILL TAKE OBJECTION IF I M SHOWING 40% EXPENSES OF COMMISION AGENT OF "AMWAY PRODUCTS" WHICH IS LIKE MLM/ CHAIN MARKETING. HIS INCOME IS 50 LACKS....WHAT WILL BE CASE IF INCOME IS ONLY 10 LACKS OF SIMILAR OTHER AGENT...?
WHAT R D CHANCES THAT CASE WILL COME UNDER SCRUTINY...?
PLZ REPLY URGENTLY...31ST JULY IS LAST DATE. DIPAK 07276993000
26 July 2012
TDS under 194J will take to the limit of 15Lakh for tax audit. Please check the same. Is it 194H or J? 60% income out of commission may not attract much nuisance in scrutiny.
29 July 2012
Mr Deepak Gulahae, Such(Amway) dealers also have to maintain books file returns and pay VAT on their sales. They also have to do registration under VAT and CST Acts....MJK
CAclubindia
