03 February 2011
Dear Friends, if we filed annual return as per section 44 AF for an Individual, than what is use of giving detail of sundry debtors, creditors, cash in hand & bank balance. How this is helpful for Income Tax Authorities & what is to be determined by these details, because no books of account to be maintained under this category, whether they links these information with somone ? kindly clarify. thanks in advance
03 February 2011
IT has some internal mannual for assessment of return filled u/s 44 AF. These data are usful for the authority for verification of data.
Guest
Guest
(Expert)
03 February 2011
These are required by law whether useful or not but in case of search/survey these figures are useful for the department
CAclubindia
