18 January 2013
dear respected sir an assessee having commission income for assessment year 11-12 is Rs 4 lacs but he do not keep any expenses record of travelling, salary to staff etc, can he file return to show expenses 30% to 40% or lower and prepare p/l a/c and balance sheet in account cases ? otherwise he need to pay large income tax, if do not show that. please advice me thanks....
19 January 2013
dear sir thanks for replies but I already mention that it is commission income and as per finance bill 2012 commission income can not show under sec44ad and its effect from assessemnt year 2011-12. please clear to me thanks.
CAclubindia
