I need ur valuable suggestion regarding income tax return filing of one of my friend Vikash Kumar.
My friend is a labour contractor and provides the casual as well as pay roll labour under his own name to a manufacturing concern.He is registered with labour dept. as well as service tax dept. and files return regularly.
He has no assets & no liability.He just takes the money from company and distribute among his labour, profit margin is very low approx 20000 per month but he recd from the company approx 3 to 4 lacs per month. He charged Rs 55 per Mt of goods manufactured from the company.
CAclubindia
