11 February 2014
dear sir a commission agent income of RS 190000 but he has no books of accounts. hence how can show expenses? is IT DEPT consider expenses if show 30% to 40% exp? please advice me thanks.......
11 February 2014
If he does not maintain books of account he may be made liable for paying penalty for non maintenance of books of account. . However, if you can produce the details of expenses and required documentary evidences there may not be a penalty. . You may take some risk and file the return. .
CAclubindia
