What if we dont record sales

what if we don't record sales means
actual sales is more than sales recorded
Replies (5)
Quick Summary
Failing to record all actual sales means your recorded sales are lower than reality. This practice can lead to significant penalties from the Income Tax department, ranging from 100% to 300% of the undisclosed income. It's crucial to ensure all sales are accurately documented to avoid these severe financial repercussions.

Yes. That is common sense.
No, what its effect ???
In any case if Income tax department found this the penalties for this are high, from 100% to 300% of the tax for undisclosed income.

If you are satisfied with my reply then please like it si that I'll be motivated to answer more 🙂
Penalty might be attracted
Yes...

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured 27 October 2026
semi-qualified CA

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Final

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details