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
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.
CAclubindia
