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Non maintainance of books

This query is : Resolved 
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(Querist)
31 July 2012 Can any expert can share their experience that if:

1)I wish to show any commision agent commision received of Rs 50,00,000 in "If regular books of accounts not maintained" option with showing 40% as expenses.He/she have 10% TDS.

2)Will case come under scrutiny....?

3)Will AO will charge Penaly for no books...?
4)Will answer will be different if Gross commision is only Rs.10 lacks

Try to give your mobile number also....plz
Dipak Gulhane 07276993000
d4india@yahoo.in
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CA.Sourabh Sethia

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CA.Sourabh Sethia (Expert)
01 August 2012 yes penalty will be levied for not maintaining books of accounts

scrutiny will depend on the case with full facts

please clarify the following issues
1. nature of commission
2. expenses
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Dipak Gulhane

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Dipak Gulhane (Querist)
01 August 2012 Hi Saurabh,

Commision agent is having Income from chain marketing companies like Amway India, Herba life, N Mart Ltd. etc.

Expenses will mostly for meeting people to join a chain...plz provide your contact

Dipak 07276993000
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