22 July 2011
Dear Experts, In case a client who is not attracted to maintain the books of accounts and tax audit under income tax act,1961.In such a case what responsibility will be there on the person who is filing income of that client(i.e.,Can a person can file his return based on oral info given by the client or else we have to taken any written info from the client.
Even if a person is not required to maintain books of accounts or carry out tax audit under IT Act, he/she is required to maintain some minimum details in order to enable him/her to carry on business and to file IT Return, for e.g., details of sales, purchases, debtors, creditors, cash and bank etc.
Hence, you should ask the client to maintain this minimum detail in order to enable you to file IT Return.
CAclubindia
