24 November 2010
hello recently got a call from my ccclient who is an approved goverment contractor with d.o.t and mtnl he has scrutiny pending for the above year , sir i would like to inform you that his annual contarct is of 98lacks for which he has received the tds in form 16 a however my promblem is that his previous c.a has not preapred proper income and expenditure account , after talking to respective client he state that he provides only labour for rehabilation for external plant cabellaying trench works etc ,,,,, can u help me out to correct income and expenditure account for his case
24 November 2010
In my opinion, please request the A.O. the fact that the income & expenditure was not properly prepared. Request him that you would like to revise the return provided the return was filed within the due date. In case the matter is up for scrutiny, then you may show him the 26AS which will be mentioning the tax credit available to him.
CAclubindia
