Dear Friends,
One of My clients has received a questionaire which requires following details:
1. Details of Godown owned and rented
2. Copy of VAT return and VAT audit report
3. Contra confirmation A/C of a few selected debtors
4. Bank A/c maintained by family members not assessed to tax
5. Details of residence such as whether flat / Bunglow, floor area, annual rent, annual society charges, repairs exp. and to explain the source of the same.
6. Locker No., rent paid and location of safe deposit vault.
7. Ledger accounts of the customers to whom sales exceeding Rs. 50000 are made.
Please tell me what is the intention of the AO to demand all this? I mean what does he wan't to verify from these details or what additions can be made by him from these details and based on what grounds?
Thx a lot in advance...
Regards,
Chintan
CAclubindia
