scrutiny u/s 143 IT ACT
This query is : Resolved
TR Nagaraja
(Querist)
05 June 2010
Hi SIR,
For the year 2008-2009, we have received notice from depatment for selecting of scrutiny u/s 142(1) of income tax 1963. we are the trasport business. Total amount of turnover is 80 lakhs, it is a 44AB Case. Audit report filed and certified by C.A.. We are not maintained any books of accounts as per income tax rules. even we dnt have bank statment fully, All cheques are received from the company discounted in out side. What are the tds certificate received from the compnay showed as turnover. Tds deducted by all compnay is 1,38,602/- We paid tax 24,322/-and claimed refund of Rs 1,14,250/-
Now income tax officers asked all details of books of account/loans statements/confirmation of account/cash book/expenses vouchers --ete. we dnt have any records what to do pls advice us. What While shifting of business all documets are missed, my number is 9845811054
For the year 2008-2009, we have received notice from depatment for selecting of scrutiny u/s 142(1) of income tax 1963. we are the trasport business. Total amount of turnover is 80 lakhs, it is a 44AB Case. Audit report filed and certified by C.A.. We are not maintained any books of accounts as per income tax rules. even we dnt have bank statment fully, All cheques are received from the company discounted in out side. What are the tds certificate received from the compnay showed as turnover. Tds deducted by all compnay is 1,38,602/- We paid tax 24,322/-and claimed refund of Rs 1,14,250/-
Now income tax officers asked all details of books of account/loans statements/confirmation of account/cash book/expenses vouchers --ete. we dnt have any records what to do pls advice us. What While shifting of business all documets are missed, my number is 9845811054
CA.Amit Revankar
(Expert)
05 June 2010
My first question to u is how u r tax auditor has issued the report, when u have not maintained the books of account. Furthur, when the assessee doesnt want to avail option of presumptive income as per 44AE, he has to compulory comply with "SEC 44AA- maintainance of books of Account" and 44AB- audit of accounts. U r clealy in fault and According to me, it will be better that u consult to ur tax auditor who has issued the tax audit report and i m sure he will defintly help u, because it is matter of his concern also. incase of any help can call-9324227338.
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