Suspicious Entries in books
This query is : Resolved
09 May 2011
Sir
I m doing Tax Audit of one of the Non-corporate assesee under 44AB of IT Act, 1961.
My client is paying monthly payment of Rs. 15000 for labour charges. I found that he always mention the name of different person on the voucher to whom he's making the payment. He's is doing so bcoz he knows that otherwise he will be required to deduct TDS under 194C when amt. exceeds 75000 during the year.
But i am damn sure that he is making payment to single person only.But i know that i can't do anything.
SO, plz tell me what kind of documents he need to maintain for these payments so that he need not face any problem during Income Tax Case. ?
Shouldn't i tell him to obtain PAN No. from the payees ? or just a voacher with payee's signature is enough ?
I m doing Tax Audit of one of the Non-corporate assesee under 44AB of IT Act, 1961.
My client is paying monthly payment of Rs. 15000 for labour charges. I found that he always mention the name of different person on the voucher to whom he's making the payment. He's is doing so bcoz he knows that otherwise he will be required to deduct TDS under 194C when amt. exceeds 75000 during the year.
But i am damn sure that he is making payment to single person only.But i know that i can't do anything.
SO, plz tell me what kind of documents he need to maintain for these payments so that he need not face any problem during Income Tax Case. ?
Shouldn't i tell him to obtain PAN No. from the payees ? or just a voacher with payee's signature is enough ?
09 May 2011
YES, just a voacher with payee's signature is enough.
NO ,any problem during Income Tax Case FOR payments so that he need
NO ,any problem during Income Tax Case FOR payments so that he need
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
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
