Sir,
How the Income Tax Dept. will Assess the Income of General stores & provision shops owners Income. Because they not issue the Bill for small amount of sales. But some of them will earn more than Rs.2 laks per annum.
For example :Some of the Shop owners showing their Accounts through the Accountant or Auditor. In This case How can they calculate the Sales Amount and Expenses occured. Whether all transactions have the supporting document.
On what basis they submit their Sales Tax Returns.
Kindly guide me.
CAclubindia
