Audit

This query is : Resolved

Nitesh kumar (Querist)
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21 February 2020 One of my friend filled his ITR Fy 2018-19 as commission agent against sale of fruits....but know has got intimation of defective return..... Same type of ITR were filled for Fy 2017-18 and was under scrutiny and demand raised as it's impossible to prove commission agent due to lack of proper documentations.

Now for Fy 2018-19 there is about 1crore 87 lakh cash deposit in Bank ac(full business is on cash)

What if I got the account audited by showing same profit

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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03 March 2020 In case of commission agent you have to maintain proper books of account first by properly recording the bank transactions and consult with a CA as regards Audit.