06 November 2014
My client who is an Income Tax Assessee, is into the business of Stock Broker. His income is Brokerage, plus he accepts investments from his clients in cash and cheque and gives 5% pm interest.But he has not kept any accounts of his transactions. its in total mess. I need to file the return. But i am worried about the cash deposits. pls advice. What suitable business can i show to reduce tax and how much tax should i pay. keep in mind the vat and service tax obligations also.
07 November 2014
Dear Nikhil , my concern is the same. what to do for cash deposit. how to disclose it. and if scrutiny arises, then how to tackle the issue. pls throw light on this. thanks Ca. ameya pai
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