24 June 2010
MY CLIENT HAS A PROPRIETORSHIP BUSINESS,HIS TURNOVER IS 64LACS.NET PROFIT IS 2.10 LACS.HE PAY 25K PREMIUM IN AGGREGATE IN HIS WIFE AND CHILDREN NAME IN LIC.HE HAS SHOWN THESE EXPENDITURE IN HIS BOOKS AS DRAWING.WHAT TYPE OF AUDIT HIS BUSINESS NEEDS TO BE DONE.ONLY TAX AUDIT WILL BE SUFICIENT OR NEED STAT AUDIT ALSO.HOW CAN HE CLAIM DEDUCTION FOR HIS PREMIUM EXPENSE.
24 June 2010
SIR,VAT IS PAYABLE .HE HAS NO OTHER SOURCE OF INCOME.IS HE HAS TO FILE HIS PERSONAL RETURN ALSO.HOW CAN HE CLAIM DEDUCTION FOR PREMIUM PAID FOR HIS WIFE'S POLICY?
24 June 2010
SIR,VAT IS PAYABLE .HE HAS NO OTHER SOURCE OF INCOME.IS HE HAS TO FILE HIS PERSONAL RETURN ALSO.HOW CAN HE CLAIM DEDUCTION FOR PREMIUM PAID FOR HIS WIFE'S POLICY?
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