Dear Friends,
One case came to me. One Sole Proprietor has been running a private education institution for the last three years. His receipts for the last financial year is more than 50 lakhs and was around 20 - 30 lakhs in the other previous years . He says he was unaware of the tax procedures and had never gone for any advice before.
1) He has not taken Service Tax registration till now. What is the remedy for him for the previous years? Do we need to meet the service tax authorities for that matter?
2) What can he do regarding the income tax payment from the beginning of the business?
3) He has not collected or remitted TDS from Salary , Rent etc. What can be done in this regard?
Note - He didn't even prepare proper boks of accounts but want to be in proper order in future.
Kindly advice
CAclubindia
