What if we dont record sales

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1359 Points Posted on 02 November 2021
what if we don't record sales means
actual sales is more than sales recorded
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On 02 November 2021 at 18:39 Report
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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.

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ca
603 Points Posted on 02 November 2021
Yes. That is common sense.
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On 02 November 2021 at 20:34
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1359 Points Posted on 02 November 2021
No, what its effect ???
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On 02 November 2021 at 21:23
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CA
10436 Points Posted on 02 November 2021
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 🙂
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On 02 November 2021 at 22:47
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Chartered Accountant
24588 Points Posted on 03 November 2021
Penalty might be attracted
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On 03 November 2021 at 06:16
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CA
10436 Points Posted on 03 November 2021
Yes...
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On 03 November 2021 at 14:39

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