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A.o asking for details

ITR 169 views 4 replies

Guest

A person filled income tax under 44AD ITR 4. the case was selected for scrutiny

What information the A.O ask and how should the person respond to the queries as the person has not maintained any books of accounts

Replies (4)

Sahil Jain (FAFD, DISA, CA)

Practicing Chartered Accountant

2481 Points Joined June 2013

A.O. may ask for basic details such as bank statements, cash ledger, sales & purchase ledger, stock statements, Demat ledger, etc.

Guest

Ok in this case the person earns from advertisement from their website. he has paid for writers but there is no proof of that?

What should be done here?

Guest

the only proof is cash withdrawl

Sahil Jain (FAFD, DISA, CA)

Practicing Chartered Accountant

2481 Points Joined June 2013

Make cash expense voucher and take signatures of parties to whom payment is made.
Note that voucher shall be below 10K, as cash exps above 10K are disallowed.

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