26 September 2024
All of my income is in USD. My expenses are very low. I am filing taxes under presumptive taxation scheme for business. If i show greater than 8% of my turnover as profit but lesser than actual profit I made, What are my risks ? Is there risk of getting a scrutiny If I buy assets that are worth more than the income on which i paid taxes ? Are there any risks If I put all the money in Fixed deposits or savings bank account (because of TDS) How do I safely build assets, what are the best practices I need to follow ? I might use services of someone who is expert in this field answers my doubts clearly. I am fast growing individual who is looking to expand and looking for best tax consultant
26 September 2024
Sir, I am building my own software and renting them on monthly basis, I also provide software development services to one client but it is 10% of my turnover
CAclubindia
