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Sales differ from sales tax return

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Amolsaharan

CA Practice

53 Points Posted on 08 April 2014

I have started practice a few month ago. The first problem I am facing is the huge sales difference in sales tax return and the audited p & l. clients are showing very lesser amount of sales in sales tax return but when they need stock and sales for cc limit purpose , They want to show higher sales and stock in the p & l and balance sheet. is it right to do so ? a

Replies (4)

CA Gaurav Mittal

Partner

1011 Points Posted on 08 April 2014

Sir,

I suggest not to indulge in such practices.

Try dealing in tax free items and increase your sales via that.

In case of any Help

CA Gaurav Mittal

+91-9971312299

Income Tax Wala: (Fin. Expert)

Chartered Accountants

1412 Points Posted on 08 April 2014

this practice is altogether wrong. so advise not to indulge in such type of practice

Amolsaharan

CA Practice

53 Points Posted on 08 April 2014

So as a chartered i should refuse these type of tax audits

VIKASH KUMAR JAIN

Audit Executive

628 Points Posted on 08 April 2014

You are right.Such practices are commonly known as misrepresentation of facts and figure.Keep yourself away from such practices and also give alert message to your client.