I would like to know of what advice do you give your tax clients who come within the purview of Tax Audit regarding maintaining books of accounts?
The accounts are being maintained in Tally.So whether any manual vouchers are required to be made?and under what transactions?
If there are any other tips you have regarding "How do you advice clients on Tax and other related matters"Please share it with me on : alka_0to0@yahoo.com
1.) For cash payments maintaining vouchers is the best policy.
2.) For clients coming under tax audit, their books are audited and the cash vouchers forms a basis for records checked. So they should maintain vouchers duly authorised and signed.
3.) For Tax advice to clients , their income component , family members and their age are few functions on which tax planning can be done / adviced.
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