a.y 2012-13
date of filling return: 30/09/2012
Date of order 06/05/2013 total demand:45,04,500/-
Total turnover Rs. 17,24,399 and profit 174560/-
Though it is not necessary still It was audited by a CA because my client was trying to obtain a loan from a bank on this time.
Problem:
1) return filed under option no books of account maintained though it was audited and books of accounts maintained.
2) on return it was seen : Gross turnover=0 gross profit=1724399 expenses=0 net profit=1724399 tax payable Rs 343687
Assessee is a lay man, he pay rs. 17000/- to his consultant for audit and return filing etc. consultant pay nothing Now demand notice received Please help what will be the remidy, Assessee is unable to pay Rs. 4.00 lacs
CAclubindia
