05 March 2009
my wife is in house hold besiness and earn more than above income tax limit.she has no proof of goods purchase and sales but she want to file her return and want to pay incometax.my vakil advice not to file return as this will attract it officer to penalies you.please advice me
05 March 2009
First it's very good that your wife is earnig some thing for your family & it's also goods disision of Filling I T Return. following is the main points to take care & document to be keep for filling personal IT Return
1 Plz open a saving or current a/c in bank & make all the transaction or payment by cheque so you can prove the facts
2 plz get the Bills from your suppliers 3 Give Receipts or Cash Memo to your customers for goods sold or service given. 4 Make proper filling of all the expenses made 5 Just keep rough copy of daily accounts for record
I think these will help you for the records if ask by any IT Office in future after filling I T Return
CAclubindia
