Dear Sir's ,
I had filed Income Tax of one of my uncle who have a business milk distributor agency ...His total deposit in his accounts approximately more than Rs 6 crore and withdrawal more than Rs 4.5 crores .Like we know this business having income on comiision basis ..like Rs 1 or 1.50 /- per litre .. So i had computed his income like Rs 6.5 total deposit divided by purchased price of per litre of milk Rs 37/- ( 65000000/37=1756756.75 total milk distributed of the year then I multiply with 17,56,756.75 * Rs 1 per litre of milk ...so his gross revenue comes to Rs 17,56,725,/- and then filed the return as per U/s 44AD 8% of total turnover No books of Accounts maintaned ...My Question is that whether I ahd filed on a right way or its required to be audited this accounts....
CAclubindia
