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
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A.o asking for details
Replies (4)
A.O. may ask for basic details such as bank statements, cash ledger, sales & purchase ledger, stock statements, Demat ledger, etc.
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?
the only proof is cash withdrawl
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.
Note that voucher shall be below 10K, as cash exps above 10K are disallowed.
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